HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia remained steady in September 2010 at $847m. The current estimate ($847m) is 28.5% 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 $13,695m in September 2010; 0.7% higher than August 2010 but 20.0% lower than the peak recorded in June 2009 ($17,111m).

In September 2010, the average home loan size for owner occupied dwellings in South Australia was $223,400, a decrease of 2.3% over the previous month, and 21.6% lower than the average home loan size for Australia ($285,100).

In September 2010, the average loan commitment for first home buyers in South Australia fell to $228,700; a decrease of 4.5% over the August estimate. The average loan size for non-first home buyers was $222,500, a fall of 2.0% over the same period. First home buyers, on average, borrowed 2.8% more than non first home buyers in September 2010.

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