HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia fell in April 2011 to $809m. The April estimate is 1.5% lower than the previous month, and 31.8% lower than the peak value of housing finance commitments recorded in May 2009 ($1,186m). Nationally, the value of housing finance commitments for owner occupation was $13,340m in April 2011; 1.1% lower than March 2011, and 22.1% lower than the peak recorded in June 2009 ($17,125m).

In April 2011, the average home loan size for owner occupied dwellings in South Australia jumped to $243,800; an increase of 8.5% over the previous month, but 15.8% lower than the average loan size for Australia ($289,600).

In April 2011, the average loan commitment for first home buyers in South Australia rose to $242,500; an increase of 4.2% over the March estimate but 9.6% below the peak recorded in March 2009 ($268,300). The average loan size for non-first home buyers in April 2011 rose considerably to $243,900; an increase of 9.2%. The average loan size for first home buyers in April 2011 fell below (0.6%) that for non-first home buyers.

For information on the house price index, please refer to the ' Price Indexes' topic.


*DATA NOTES

Please refer to source publications for impact of floods on data and collections.