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PHOTO: A lift in the number of mortgage approvals has come as a surprise, after dire predictions about the outlook for property.
Despite dire predictions this week of a looming collapse of the property market, which would trigger economic disaster, new figures show a lift in the number of recent homebuyers.
Housing finance data released today by the Australian Bureau of Statistics (ABS) has revealed an increase in both the number and total value of mortgages issued in October.
Throughout the month, 52,654 loans were approved, up 2.2 per cent on September, which experts say represents rare good news.
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