HOUSING FINANCE


HOUSING FINANCE COMMITMENTS

The trend estimate of the total value of housing finance commitments (owner occupation) in South Australia in June 2010 was $840m, a decrease of 0.1% from May 2010 ($841m). The series has been declining for 12 months with the current estimate ($840m) 29.2% lower than the peak value of housing finance commitments recorded in June 2009 ($1,186m). Nationally, the value of housing finance commitments for owner occupation was $13,214m in June 2010; 0.7% lower than May 2010 and 22.9% lower than the peak recorded in June 2009 ($17,140m).

In June 2010, the average home loan size for owner occupied dwellings in South Australia was $221,300, a decrease of 2.5% over the previous month, and 22.4% lower than the average home loan size for Australia ($285,300).

In June 2010, the average loan commitment for first home buyers in South Australia fell to $236,800; a decrease of 3.8% over the May estimate. In comparison, the average loan size for non-first home buyers fell to $218,900, a decrease of 2.3% over the same period. The average loan size for first home buyers in June 2010 is 8.2% higher than for non-first home buyers.

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