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Forums

Britz in Oz for British Expats :: Forums :: Specific Migration Topics :: Accommodation and Housing Discussions
 
<< Previous thread | Next thread >>
First Home Buyers Mortgages
Moderators: Admin, ABCDiamond, Advertising, email, Sponsors
Author Post
Admin
Mon Jul 12 2010, 12:11AM
admin


Registered Member #1
Joined: Wed Jan 30 2008, 10:05AM
Location: Queensland
Posts: 371
 First Home Buyers average Mortgages

The average mortgage finance for First home buyers in May 2010, as compared to April 2010, has dropped slightly in most States.

However, the major difference is in the Northern Territory, where this months average first home mortgage has risen to $355,900, the highest figure for all the States. South Australia also rose slightly.

NSW
Number of Loans: 2392 up to 2585
Average Value: $309,800 down to $309,300

Vic
Number of Loans: 2223 up to 2471
Average Value: $314,400 down to $308,400

QLD
Number of Loans: 1245 up to 1252
Average Value: $297,100 down to $284,500

SA
Number of Loans: 476 up to 529
Average Value: $241,900 UP to $246,000

WA
Number of Loans: 885 up to 944
Average Value: $289,300 down to $279,600

TAS
Number of Loans: 136 down to 126
Average Value: $212,000 down to $193,700

NT
Number of Loans: 57 up to 60
Average Value: $325,700 UP to $355,900

ACT
Number of Loans: 129 DOWN to 118
Average Value: $285,300 down to $276,400

This information is taken from data sourced at ABS 5609.0 Housing Finance, Table 9b



[ Edited Mon Jul 12 2010, 12:11AM ]
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Admin
Mon Jul 12 2010, 02:12AM
admin


Registered Member #1
Joined: Wed Jan 30 2008, 10:05AM
Location: Queensland
Posts: 371
 New South Wales
In the 12 months ended May 2010, there were 2,585 First Home Buyer mortgages issued in NSW, with an average value of $294,800 each.
In May 2010 the average was $309,300.
The highest average recorded so far was Dec 2009 at $312,400

Victoria
In the 12 months ended May 2010, there were 2,471 First Home Buyer mortgages issued in Vic, with an average value of $267,970 each.
In May 2010 the average was $282,500, this is the highest average recorded so far.

Queensland
In the 12 months ended May 2010, there were 1,252 First Home Buyer mortgages issued in QLD, with an average value of $275,812 each.
In May 2010 the average was $284,500.
The highest average recorded so far was Mar 2009 at $300,400

South Australia
In the 12 months ended May 2010, there were 529 First Home Buyer mortgages issued in SA, with an average value of $234,940 each.
In May 2010 the average was $246,000.
The highest average recorded so far was Mar 2009 at $268,300

Western Australia
In the 12 months ended May 2010, there were 944 First Home Buyer mortgages issued in WA, with an average value of $294,476 each.
In May 2010 the average was $279,600.
The highest average recorded so far was Jan 2010 at $301,800

Tasmania
In the 12 months ended May 2010, there were 126 First Home Buyer mortgages issued in Tas, with an average value of $199,003 each.
In May 2010 the average was $193,700.
The highest average recorded so far was Jan 2010 at $215,100

Northern Territory
In the 12 months ended May 2010, there were 60 First Home Buyer mortgages issued in NT, with an average value of $302,253 each.
In May 2010 the average was $355,900, this is the highest average recorded so far.

Australian Capital Territory
In the 12 months ended May 2010, there were 118 First Home Buyer mortgages issued in ACT, with an average value of $290,813 each.
In May 2010 the average was $276,400.
The highest average recorded so far was Mar 2009 at $316,700

2010-fhb.xls
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Admin
Thu Apr 07 2011, 02:55AM
admin


Registered Member #1
Joined: Wed Jan 30 2008, 10:05AM
Location: Queensland
Posts: 371
 The latest ABS update shows that the average First Home Mortgage in Feb 2011 was $277,000.

This has dropped from the average first home buyers mortgage of $281,600 a year ago in February 2010.

To do a comparison for average mortgage against average income, have a look at this very conservative calculation:

If the average First Home buyers only earned 50% of the average wage, and both were working full time, the multiples would have been:

2.68 in 1995
3.44 in 2003 up 28% since 1995
4.14 in 2011 up 20% since 2003

More at: www.abcdiamond.com/australia/first-home-buyers-average-loan-size
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