The average mortgage is $295,500

The value of housing finance commitments rose 2.4 per cent in June (in seasonally adjusted terms) according to Australian Bureau of Statistics housing finance figures released yesterday.

The figures show that the number of loans to first-home buyers rose strongly, while loans for the purchase of established houses and refinance has been falling.

The proportion of first-home buyers was 18.3 per cent – up from 17.8 per cent in May, and a low of 16.4 per cent in March.

Average loan size continued to increase, after hitting a 12-month low of $282,900 in February. Average loan size in June was $295,500. The average loan size for first-home buyers was $289,400.

Source: Banking Day

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