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In February 2009, the average home loan size for owner occupied dwellings in South Australia was $210,700, which was significantly lower than the average home loan size for Australia ($253,200).
In February 2009, the average loan size for first home buyers in South Australia was $252,200, which was 26.2% higher than the average loan size for non-first home buyers ($199,900). Since April 2008, the average loan size for first home buyers has increased 28.1% while the average loan size for non-first home buyers has increased 2.7%. The non-first home buyers category of loans includes loans for purchasing housing and the refinancing of existing loans. The latter type are smaller in size and refer to refinancing with a different lender, but with the security unchanged. The increasing divergence between the average loan sizes for first home buyers and non-first home buyers seen after April 2008 can in part be attributed to the increasing contribution of smaller refinancing loans to the non-first home buyers category.
For more information on housing finance in South Australia, please refer to this month's feature article Housing Finance - First Home Buyers and Other Borrowers.
For information on the house price index, please refer to the 'Price Indexes' topic.
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