HOUSING FINANCE

HOUSING FINANCE COMMITMENTS

In Queensland, the number of owner occupied housing commitments in trend estimate terms decreased to 10,798 (down 4.6%) from December 2009 to January 2010, the seventh monthly decrease after ten consecutive monthly increases.

The trend estimate of the total value of housing finance commitments for owner occupation in Queensland decreased by 3.3% to $3,045 million, from December 2009 to January 2010. Over the year to January 2010, in trend estimate terms, the value of housing finance commitments showed an decrease of 4.2%.

Since January 2000, the average home loan commitment for owner occupied dwellings in Queensland has more than doubled from $125,800 to $280,300.

In January 2010, the average loan size for first home buyers ($284,400) increased 0.7% from the previous month. The January 2010 average loan size for non-first home buyers ($279,500) decreased 0.9% 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.