Australian February Home-Loan Approvals Decline on Floods
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Australian home-loan approvals declined for a second month in February as floods and a cyclone disrupted the housing market on the nation’s east coast.
The number of loans granted to build or buy houses and apartments dropped 5.6 percent from January, when they fell a revised 6.3 percent, the statistics bureau said in Sydney today. That compares with the median estimate for approvals to slip 2 percent in a Bloomberg News survey of 21 economists.