HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia remained relatively steady in October 2010 at $849m. The current estimate ($849m) is 28.3% lower than the peak value of housing finance commitments recorded in June 2009 ($1,184m). Nationally, the value of housing finance commitments for owner occupation was $13,948m in October 2010; 0.9% higher than September 2010 but 18.6% lower than the peak recorded in June 2009 ($17,128m).

In October 2010, the average home loan size for owner occupied dwellings in South Australia was $229,600, an increase of 2.8% over the previous month, but 19.9% lower than the average home loan size for Australia ($286,500).

In October 2010, the average loan commitment for first home buyers in South Australia rose to $241,400; an increase of 5.6% over the September estimate. The average loan size for non-first home buyers was $227,900, a rise of 2.4% over the same period. First home buyers, on average, borrowed 5.9% more than non first home buyers in October 2010.

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