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Refinancing to renovate is back as the sluggish property market means people are opting to do up their home rather than turn it over. New Australian Bureau of Statistics figures show refinancing existing home loans for established dwellings rose to $3.17 billion in April across all the banks, up 22 per cent on the $2.6 billion of refinancing a year earlier. Non-banks experienced a 52 per cent jump in refinancing to $339 million in April, while building societies had a 53 per cent spike to $89.5 million. Refinancing now accounts for about one in three home loans sold.
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