Massive surge in first home buyers as investor numbers fall: ABS

first_imgThe surge in owner occupiers has more than made up for the fall in investors, ABS has found. Picture: AAP Image/Dave HuntNEW data shows first home buyers have sprung into the market as new lending rules force large numbers of cashed up investors out – but there’s fresh competition waiting in the wings. Latest Australian Bureau of Statistics housing finance data showed investor lending fell 4.7 per cent over the last quarter seasonally adjusted, after posting a 1.4 per cent drop in May when owner occupiers rose 2.9 per cent.May saw 54,061 loans approved, a rise of 1 per cent from the previous month. The days of battling it out with cashed up investors and superannuation investment vehicles have been numbered since banking finance regulator APRA began a crackdown on high levels of investor exposure in lending portfolios.Real Estate Institute of Australia president Malcolm Gunning said in trend terms Queensland saw the largest decrease in investment housing commitments of 0.9 per cent with the only rise coming out of the ACT of 0.5 per cent.First home buyers reached their highest level since July 2015 as a proportion of total owner-occupied commitments, he said, rising to 14 per cent.“The number of first homebuyer commitments increased by 28.9 per cent for the month and is the highest since October 2014,” he said.“The May figures show that the market is adjusting with owner occupiers and first home buyers returning to the market as investor activity decreases and is worth noting that this is before the recent concessions introduced for first homebuyers.”Mr Gunning said the May figures were the first to show the impact of the lending crackdown on property investors.But there’s a twist in the tale for first home buyers with the investor vacuum being rapidly filled by a flood of other owner occupiers hitting the market, according to RateCity.com.au money editor Sally Tindall.“The surge in owner-occupier lending has more than made up for the drop in investor lending, defying increasing speculation the housing market is waning,” she said.“The government regulator will be pleased with this surge as it shows that the ‘right’ type of people are taking out home loans.”More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoOwner occupiers can expect to see even less investors competing for property with them as the full effects of two rounds of rate hikes interest-only loans and investment housing finance sink in.“Further drops in investor lending are extremely likely in the months to come,” Ms Tindall said.“It just goes to show there is no shortage of owner-occupiers waiting in the wings when investors get cold feet. Owner-occupiers with principal & interest loans are now paying an average of 80 basis points less than investors with interest-only loans, so it’s no wonder they are stepping up to the plate.” Average Variable Rates Based on the average mortgage size of $350,000 (ABS). Owner-occupier, principal & interest: 4.29 per centOwner occupier, interest only: 4.71 per centInvestor, principal & interest: 4.72 per centInvestor, interest-only: 5.09 per cent Source: RateCity.com.aulast_img read more

Read More »

Black Caps ready for Windies fightback

first_imgHAMILTON, New Zealand (CMC) – Despite a crushing win in the opening Test in Wellington, the Black Caps are not writing off a West Indies fightback, in the second and final Test starting here Saturday.The Caribbean side played poorly to lose by an innings and 67 runs inside four days, to fall 1-0 behind in the two-match series.However, head coach Mike Hesson said recent history suggested the Windies could be back stronger at Seddon Park, and stressed his side needed to be prepared for the backlash.“We’ve seen how well the West Indies have bounced back in previous series so we certainly expect them to do that,” he said.“History suggests they are (a threat). In England they got dealt a pretty severe blow in the first Test and then came back at Headingley and beat England.“We’re certainly expecting them to sustain pressure over a longer period of time.”West Indies showed their character against England last August, rebounding to stun the hosts by five wickets at Leeds just days after slumping to an embarrassing innings and 209-run loss inside three days at Edgbaston.The core of that same side has travelled for the current tour, with the likes of Kraigg Brathwaite, Shai Hope and Roston Chase all expected to suit up against for the second Test.At the Basin Reserve last week, West Indies showed glimpses of their quality, especially through Brathwaite, Shimron Hetmyer and seamer Kemar Roach, but Hesson said New Zealand had been able to stay patient.“I just think we sucked up West Indies pressure in those first couple of sessions. That was really important and it’s an area that we have to do well again in Hamilton,” he noted.Batsman Henry Nicholls agreed with Hesson’s assessment, pointing out that the Windies had bowled well up front, before the Kiwi batsmen got on top to pile up 520 for nine declared.When the visitors batted, especially in the second innings, Nicholls said they had also threatened at periods.“I felt they really bowled well for 80 or 90 overs. It felt we were under pressure the whole time,” said Nicholls.“And then with the nature of Test cricket, we were able to wear them down I guess at the back end of that last session – the guys did extremely well not just to build a partnership but the way they went about it and the scoring rate was impressive.”He added: “But I think we saw at times when they batted, the way they were able to put partnerships together both with bat and ball, the bat in the second innings with Kraigg and the number three (Hetmyer) and four (Hope) … It can turn pretty quickly in Test cricket.”West Indies will be without their captain, all-rounder Jason Holder, for the second Test after he was suspended Tuesday by the International Cricket Council for his second over-rate offence in 12 months.Under ICC regulations, the Windies were adjudged to be three overs short of their specified target during the first Test at the Basin Reserve.Each player was fined 30 per cent of his match fee while Holder, as captain, was fined double the amount and slapped with a one-game suspension.last_img read more

Read More »

Thurston County Offers Master Recycler Composter Training

first_imgFacebook0Tweet0Pin0The Master Recycler Composters of Thurston County is a volunteer service program. The County trains Master Composter volunteers to become community educators and green team members. Topics include solid waste issues such as waste reduction, recycling, and composting within Thurston County.Classes for 2012 are 6 pm- 8:30 pm Sep 6, 20, Oct 4, 11, and 18 plus 9 am- 12 pm on September 22 and October 6. Applications are due by 5 pm, August 17.For more information go to www.ThurstonSolidWaste.org and click on “volunteers”.last_img

Read More »

I Feel Pretty …

first_imgBy Kathy MieleIt was early on a weekend morning when I decided to give myself a day of pampering.Going through the cabinets in my bathroom I found all the products that would make me beautiful. The first step was smoothing on a thick layer of clay on my face. Once that was done I sat back on the couch ready to read the newspaper and wait for my facemask to harden.Steven walked in and did a quick double take. “What’s that for?” he asked.“It’s a detox mask,” I answered barely moving my lips and wondering if maybe becoming a ventriloquist was in my future.“What are you detoxing from?” he asked.“Can’t talk, mask is hardening.” I picked up the newspaper again and continued my relaxing.Once the mask was done, I decided to put a deep-oil treatment in my hair and a peppermint mask on my feet.Steven walked by again. “Wow! What’s that smell?” He looked at my feet propped up on the coffee table encased in a chalk-like substance and my oily hair on top of my head wrapped in plastic wrap.“It’s the peppermint. I’m recharging my tired feet.”I’d finished with the newspaper and had moved on to a book. “After 10 minutes I can rinse this off then I’ll put on a thick layer of shea butter before I put on a pair of white cotton socks, two hours later my feet will be baby soft and completely rehydrated.”“With a smell like that I bet you’re opening up your sinuses too!” Steven held his hand over his nose as he walked past me to go to the kitchen. “I know mine are,” he mumbled.Twenty minutes later, freshly out of the shower, the deep-oil treatment was done and my hair was air drying. No heat from a blow dryer was going to mess up a 20-minute oil treatment!I sat back on the couch ready to start my manicure. With my wet hair now hanging around my newly detoxed face and my feet sliding around in my white cotton socks, (I might have gone a little too heavy with the shea butter), I began buffing my nails.Steven came by again. “Are done in the bathroom?” he asked. “I’d like to get my shower.”“I am, but be careful in the shower,” I called. “My oil treatment might have left the floor of the shower a little slippery.”When Steven came out of the shower, my nails were finished and drying. “Thanks for the warning,” he said. “It was pretty slippery in there.”“Sorry about that. I’ll scrub it out later when I’m finished.” I waved my fingers back and forth and began blowing on them. “Do you want some lunch?” I asked.“Sure, what are you making?” he asked.“I was hoping you’d make something,” I said as I waved my fingers around. “I’m still drying.”“I was going to make some eggs,” he said. “Do you want some?”“That would be perfect,” I said as I grabbed my book and settled back into the cushions of the couch wondering why I didn’t do these beauty treatment weekends more often.last_img read more

Read More »

Reel Adventures Charters Fishing Report

first_imgBy Kerry Reed, Reel Adventures Charters It’s that time of year.The weather has finally warmed up to the spring like conditions we’ve all been waiting for.  And with that, the water will be warming up also and the fish will start to get more active.  My favorite time is coming. April saw some good and bad days on the water.  Still had to be patient, but we were normally rewarded.  The creeks started to flow a bit in the past few weeks and that has brought out some bugs and debris on the water.  This has also brought out the small, insect eating fish.  So, we have been hooking into a lot of shakers lately.  At least it keeps us running for the rods. Most days have been consistently producing the small bug eaters and have had a few big ones mixed in to keep it exciting. One of our best days last week saw us hooking into 12 Rainbows.  The first few were only small and had us wondering if we would find a big one.  But after catching half a dozen little guys, we finally hooked into a hog.  Wayne was on the rod and held on while this fish ran the counter out to over 500 feet of line.  What a great run.  We saw the fish jump about 6 times and then made a mad run towards the boat and spit the hook.  Heart breaker. Another couple small fish came to the boat and we were beginning to wonder if we had lost our chance at the big one for the  day.  Well, finally we were rewarded.  At 1:30 p.m. the line started screaming off the reel again.  Wayne was first to the rod again and was hoping for redemption.  After a 10 minute battle, he finally got the fish to the boat.  A beautiful 14 pound Rainbow.  Maybe not as big as the first fish he lost, but still a great fish.  His biggest Rainbow ever. About 20 minutes went by and  then another rod started screaming.  Looks like the afternoon bite is in full swing.  Grahame grabbed the rod this time and the fight was on.  He could get the fish with in 50 feet of the boat, but then it would run back out to 200 feet.  A couple more times this happened until finally his fish was ready for the net.  A nice chrome 14-1/2 pound Rainbow.  Almost a clone of the last fish.  Great battle and some great photo’s. For the next hour we landed another 12 pound Rainbow and a couple smaller ones.  This turned out to be a great day and it reminds me of what is still to come. The water temperature hasn’t quite reached our prime number yet, but when it does, these fish are going to go wild.  Also, keep an eye open for the famous flying ant hatch.  With the hot weather coming up, we should see these insects flying around soon.  They will get blown into the water by the thousands.  And that’s when every fish in the lake will finally come to the surface and put the feed bags on!! Looking forward to the next couple months.What are they biting on??? We’ve been catching a lot of fish on our bucktail flies.  Lots of shakers at this time of year, but always a few big ones mixed in.  Favorite colors so far have been:  black/white, grey/white, and still purple/white.  The lucky numbers being:  210, 215, 222, 228 Apex lures are working well also.  Similar colors as the flies.  Black/white,  Silver, or blue/green has been working as well. And my favorite Lyman plugs have also been producing some fish.  Lucky numbers: 10, 16, 55, 69. Our water temperature is rising and the fish should be turning on. Prime time is coming, so Let’s get out there.Gerrards are Spawning It’s that time of year when the big Gerrard Rainbows make their journey up the river.  The numbers have been good so far and should continue until the second week of May.  For anyone that hasn’t seen this, it’s something to experience.  Right now there is over 700 fish under the bridge.  Hopefully we see a few more show up over the next week or so. You can check the ministry website for current counts. Check out this site:  www.env.gov.bc.ca/kootenay/fsh/main/mainfish.htmTight lines…………..Kerry Reed Reel Adventures Charters Nelson B.C 250-505-4963 www.reeladventuresfishing.comlast_img read more

Read More »

End of labour dispute good news for high school athletes

first_imgNot only did the school strike/lockout affect classroom studies for students throughout the province, but also many extracurricular events including high school sports in BC.The late start has put a damper on the fall sport season — which includes sports as fieldhockey, boy’s soccer, volleyball and cross country running.Coaches are now playing catchup to try to get somewhat of a season in before zone playoffs and provincial tournaments happen in October and November.”BCSS (BC School Sports) has confirmed that the seasons will not change – no extension to fall season,” Mount Sentinel volleyball coach Joe Moreira said Tuesday. Moreira is doing his best to keep the Mount Sentinel Senior Girl’s Volleyball program afloat by hosting a tournament this weekend.”We have had four teams drop out so we are scrambling a bit,” Moreira explained. “Job action has taken a bit of a toll.”At L.V. Rogers High School, senior girl’s coach Jennifer Kidd hosted the first practice of the season Tuesday and will attend the Mount Sentinel tourney beginning Friday at Selkirk College in Castlegar.Meanwhile a few of the fieldhockey players have been staging informal games in Nelson to try to stay sharp for the upcoming season.The Kootenay Cross Country season begins October 1 in Kaslo.”We will continue to have races set up on Wednesdays at 4 p.m. and will try to fit in 3-4 races before the Zone Championship on October 22,” a cross country spokesperson said on the zone website.last_img read more

Read More »