HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia fell in February 2011 to $856m. The February estimate is 0.6% lower than the previous month, but 27.9% 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 $13,819m in February 2011; 1.0% lower than January 2011, and 19.4% lower than the peak recorded in June 2009 ($17,150m).

In February 2011, the average home loan size for owner occupied dwellings in South Australia was $223,700, a decrease of 2.6% over the previous month, and 20.5% lower than the average loan size for Australia ($281,500).

In February 2011, the average loan commitment for first home buyers in South Australia rose to $235,500; an increase of 2.6% over the January estimate but 12.2% below the peak recorded in March 2009 ($268,300). The average loan size for non-first home buyers in February 2011 fell to $222,100; a decrease of 3.4%. The average loan size for first home buyers in February 2011 is 6.0% higher than 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.