HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia fell in March 2011 to $819m. The March estimate is 1.7% lower than the previous month, but 31.1% lower than the peak value of housing finance commitments recorded in May 2009 ($1,189m). Nationally, the value of housing finance commitments for owner occupation was $13,335m in March 2011; 1.7% lower than February 2011, and 22.3% lower than the peak recorded in June 2009 ($17,152m).

In March 2011, the average home loan size for owner occupied dwellings in South Australia was $224,500, a small increase of 0.4% over the previous month, but 21.4% lower than the average loan size for Australia ($285,500).

In March 2011, the average loan commitment for first home buyers in South Australia fell to $232,800; a decrease of 1.1% over the February estimate but 13.2% below the peak recorded in March 2009 ($268,300). The average loan size for non-first home buyers in March 2011 rose slightly to $223,300; an increase of 0.5%. The average loan size for first home buyers in March 2011 is 4.3% higher than for non-first home buyers.

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.