HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia rose in January 2011 to $886m. The January estimate is 0.5% higher than the previous month, but is 25.2% 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 $14,371m in January 2011; 0.4% higher than December 2010, but 16.1% lower than the peak recorded in June 2009 ($17,124m).

In January 2011, the average home loan size for owner occupied dwellings in South Australia was $229,700, an increase of 0.2% over the previous month, and 19.0% lower than the average loan size for Australia ($283,700).

In January 2011, the average loan commitment for first home buyers in South Australia fell to $229,500; a decrease of 1.4% over the December estimate and 14.5% below the peak recorded in March 2009 ($268,300). The average loan size for non-first home buyers in January 2011 rose to $229,800; an increase of 0.4%. This latest increase raises it above the average loan commitment for first home buyers for the first time since March 2008.

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.