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Australian banks’ assets grew by 17.5 per cent in the 06/07 financial year, driven by strong growth in housing loans.
APRA’s Quarterly Bank Performance report released today showed that total housing loans increased by 13.3 per cent over the year to reach $777.9 billion.
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Lending for housing continues to be a strong area for both banks and mutuals, with APRA's Quarterly Credit Union and Building Society Performance report released on Tuesday revealing similarly strong growth in housing loans for mutuals.
