HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia in July 2009 was $1,194m, an increase of 0.7% from $1,185m in June 2009. Nationally, the value of housing finance commitments for owner occupation grew by 0.8% from $17,161m in June 2009 to $17,300m in July 2009.

In July 2009, the average home loan size for owner occupied dwellings in South Australia was $217,100, which was significantly lower than the average home loan size for Australia ($266,900).

In July 2009, the average loan commitment for first home buyers in South Australia was $231,900, which was 8.8% higher than the average loan size for non-first home buyers ($213,200). Since the peak of March 2009 ($268,300), the average loan commitment of first home buyers has fallen 13.6%.

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