Solid Australian Housing Finance Demand Points to Soft Landing for Economy

SYDNEY—Demand for Australian housing remains solid with the value and number of new loans climbing in November despite a record surge in mortgage interest rates over the last year-and-a-half.

The value of new owner-occupier dwelling loan commitments rose 0.1% in November, while the number of loans being written increased by 1.0%, the Australian Bureau of Statistics said Friday.