1140 [Dow Jones] Australian housing finance rises 2.3% in...

1140 [Dow Jones] Australian housing finance rises 2.3% in January from December vs expected rise of 1.0%; investor housing finance climbs 8.3%. Strong data show there's life in housing sector yet despite hefty interest rate hikes since mid 2007. Weakness in stock markets likely driving surge in investor demand for housing finance; chronic housing shortage, rising rents also a driver of demand; population growth a further factor behind improved fundamentals for housing. Likely to have RBA alert to strength in demand, but increased housing supply will take pressure off rents, a key contributor to inflation now.(JEG)