HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia in October 2009 was $1,145m, a decrease of 0.8% from the September 2009 estimate of $1,154m and the fourth consecutive decrease since the peak of $1,169m recorded in June 2009. Nationally, growth in the value of housing finance commitments for owner occupation has steadied, increasing 0.2% to $17,128m in October 2009.

In October 2009, the average home loan size for owner occupied dwellings in South Australia was $213,500; substantially lower than the average home loan size for Australia ($272,000).

In October 2009, the average loan commitment for first home buyers in South Australia was $225,600, which was 7.4% higher than the average loan size for non-first home buyers ($210,000). The average loan commitment of first home buyers is now 15.9% below the peak of March 2009 ($268,300).

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