HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

In trend terms, the total value of housing finance commitments (owner occupation) in South Australia in April 2008 was $933.7m, a decrease of 2.7% from March 2008. Nationally, the value of housing finance commitments for owner occupation also fell 2.7% to a total of $14,007m.

In April 2008, the average home loan commitment for owner occupied dwellings in South Australia was $194,900, significantly lower than the $236,900 for the average home loan commitment in Australia. Over the last nine months, there has been little increase in the average loan size for South Australians. The average loan size in April 2008 ($194,900) was only slightly higher than that of July 2007 ($193,600).

In April 2008, the average loan size for first home buyers in South Australia was $196,900, slightly higher than the $194,600 for non-first home buyers.

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