Aust stocks close higher

Local market lifts after better than expected housing finance figures.

The Australian stock market closed higher today after official data showed housing finance lifted while Chinese inflation printed slightly lower than expected.

At 1615 AEST official market close, the benchmark S&P/ASX200 index was 0.71% higher at 5,181.5 points, while the broader All Ordinaries index lifted 0.69% to 5,179.4 points.

IG analyst Chris Weston said the federal election result had little impact.

"The weekend election in Australia hasn't really been a major market issue and traders are focusing on other issues," Mr Weston said.