HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

In Queensland, the number of owner occupied housing commitments in trend estimate terms increased from January 2009 to February 2009 to 11,524 (up 2.3%). Conversely, there was a decrease of 12% from February 2008 to February 2009.

The trend estimate of the total value of housing finance commitments for owner occupation in Queensland increased by 2.4%, to $3,013 million, from January 2009 to February 2009. In contrast, over the year to February 2009, in trend estimate terms, the value of housing finance commitments showed a decrease of 4.4%.

Since February 1999, the average home loan commitment for owner occupied dwellings in Queensland has more than doubled from $119,400 to $265,000.

In February 2009, the average loan size for first home buyers ($294,800) increased 6.1% from the previous month. The February 2009 average loan size for non-first home buyers ($254,100) increased 1.2% from the previous month.

Further information on this topic is available in Housing Finance, Australia (cat. no. 5609.0) or by contacting the National Information and Referral Service on 1300 135 070. This publication is released monthly.