HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia in August 2010 was $850m, a slight increase of 0.5% from July 2010 ($846m). The current estimate ($850m) is 28.3% lower than the peak value of housing finance commitments recorded in June 2009 ($1,186m). Nationally, the value of housing finance commitments for owner occupation was $13,547m in August 2010; 0.6% higher than July 2010 and 20.9% lower than the peak recorded in June 2009 ($17,135m).

In August 2010, the average home loan size for owner occupied dwellings in South Australia was $228,800, a decrease of 1.1% over the previous month, and 20.5% lower than the average home loan size for Australia ($287,700).

In August 2010, the average loan commitment for first home buyers in South Australia fell to $239,500; a decrease of 4.1% over the July estimate. The average loan size for non-first home buyers fell marginally (0.6%) to $227,100 over the same period. The average loan size for first home buyers in August 2010 was 5.4% higher than for non-first home buyers.

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