HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia in March 2010 was $838m, a decrease of 3.9% from February 2010 ($872m) and the tenth consecutive decrease since the peak of $1,183m recorded in May 2009. As a result of these decreases, the series has fallen to a level similar to August 2008. Nationally, the value of housing finance commitments for owner occupation was $13,698m in March 2010, 20.1% lower than the peak recorded in June 2009 ($17,141m).

n March 2010, the average home loan size for owner occupied dwellings in South Australia was $228,500, an increase of 6.3% over the previous month, but 18.8% lower than the average home loan size for Australia ($281,400).

In March 2010, the average loan commitment for first home buyers in South Australia rose to $247,700; an increase of 6.3% over the February estimate, and 9.9% higher than the average loan size for non-first home buyers ($225,400). The average loan commitment of first home buyers is now 7.7% below the peak of March 2009 ($268,300).

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