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

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Super Stores, Ghana’s Ashanti Kotoko Renew Rivalry

first_imgBoth Stores and Ashanti Kotoko set the continent agog in the late 1960s as their rivalry also bordered on bitterness.Sports Village Square recalls a major instance when Stores made a debut in 1970 at the then Africa Cup of Champions Clubs which has now changed to CAF Champions League.Both clubs were drawn together in the second round. Asante had the famous Ghanaian goalkeeper, Robert Mensah in goal at the time.Stores won the ill-tempered first leg match, 3-2 at the then Liberty Stadium, Ibadan. The second leg match was similarly characterised.With score line still goalless, trouble started in the second half when Ghana’s skipper Osei Kofi took a header which Stores’ Goalkeeper Peter Fregene snatched before it could prove dangerous.But the Ugandan referee, Mukasa Misaevi who was sandwiched between the Kotoko captain and Fregene ordered a penalty kick which Stores initially disputed before being allowed to be taken.The conversion of the kick put scores at 3-3 but Stores staged a walk out and the match was awarded to Asante Kotoko which went on to win the trophy that year.The match soiled the Nigeria-Ghana sporting relationship to the point that the annual Nigeria-Ghana annual Academicals football tournament was cancelled that year.Stores, this year proposed a friendly match which Asante Kotoko in a March 22 dated later to the Executive Chairman of the club, accepted.In the letter addressed to Mr. Adetilewa Adebajo, Asante Kotoko conveyed the complements from His Royal Majesty, Otumfuo Osei Tutu II who is the life patron of the popular Ghanaian club.No date has yet been fixed for the match. But according to Adebajo, the match venue will be the Teslim Balogun Stadium in Lagos.Rose Padmore Yeboah, the Asante Kotoko administrative manager who signed the club’s acceptance letter remarked the club was studying the Ghanaian domestic league calendar which is on-going and will suggest the most suitable time.Adebajo added that Insight Communications has been appointed to put the event together and has been mandated to secure sponsorship, branding, broadcast and media coverage.The organisers are also seeking the assistance of Lagos State Sports Commission in securing Teslim Balogun Stadium as the venue and also the necessary support and security for the event. They also plan to invite Governor Akinwunmi Ambode for the event.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Nigeria’s oldest existing football club, Stationery Stores will set the Teslim Balogun Stadium agog as it plans an international friendly tie with its age-long rivals, Kumasi Ashanti Kotoko of Ghana.The management of the Nigerian club informed Sports Village Square that the match is planned as part of efforts to bring the once fanatically supported Nigerian club back into national prominence and also, a contribution to Lagos State @50 celebrations.last_img read more

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Wisconsin host exhibition with Platteville Sunday

first_imgMATTHEW KUTZ/Herald photoFor most coaches, early season exhibitions have relatively little meaning, but that is not the case with women’s basketball head coach Lisa Stone, who will be reliving an old conference rivalry this Sunday when the Badgers host the Pioneers of UW-Platteville.One of the first stops in Stone’s coaching career began at UW-Eau Claire, a fellow Wisconsin Intercollegiate Athletic Conference member with UW-Platteville. There, Stone guided the Blugolds to an astonishing 277 and 59 record over 12 years, an .824 winning percentage.he Division I all-time mark is an .839 set by Pat Summit of Tennessee — not bad company.For Stone, scheduling these games is a way for smaller schools like Platteville to not only get the experience of playing a Division I team but also to give back to their conference.”Having been a part of that, I am an advocate of their conference,” Stone said. “It benefits the WIAC schools. It is a great venue to spectate, not only in Division III, but in Division I. The men are doing it, the women are doing it and I only think it’s going to grow in popularity.”Last Saturday the men’s team took on a different WIAC foe in UW-River Falls and will host a Division III opponent next Monday when they face Lawrence.Whether the Badgers are playing Marquette or UW-Parkside, Stone looks forward to these match-ups as a way for all Wisconsin teams to showcase their best.”To see some of the state’s best athletes, I think it’s a great showcase,” Stone said.The state of Wisconsin will definitely be well represented by both teams as a total of 25 of the 31 players on both teams hail from Wisconsin.UW-Platteville comes in after a year that saw it go .500 with a 13-13 record, but it has a very experienced returning group that will not be intimidated by the environment in Madison.”They have five seniors that are trying to make this a special year and what a way to start — to have an experience to play against Wisconsin in the Kohl Center,” Stone said.Also returning are six of their seven leading scorers from a year ago, including all-conference honorable mention forward Holly Kaiser, who paced the Pioneers with 13.7 points per game last season.However, the Pioneers will have to deal with a Badger team that has four seniors of their own. Three of those seniors make a living down low on the block, but in the new “swing” style offense Stone has implemented, all the post players have seen increased opportunities to make plays beyond the free throw line.”[The post players] have tremendous roles,” Stone said. “Within this offense they are going to step out. We need productivity inside and the five post players we have, have great blue collar work ethics and they are relentless in wanting to get better and with that good things will come.”This Wisconsin team has had an excellent off-season and four weeks of practice thus far. According to Stone, the extra hours in the gym and time watching film have really paid off.”This is the first year that I have felt that our team is as ready as they are,” Stone said. “In my mind we are ahead of any team I have had since I have been at Wisconsin.”As for the aforementioned rivalry between Stone and UW-Platteville, it has been more of a one-sided affair as Stone has an all-time record against Platteville of 23-2. She looks to continue that dominance at 1:30 p.m. this Sunday at the Kohl Center.last_img read more

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Ex-Laker Derek Fisher weathering growing pains as Knicks’ coach

first_img Newsroom GuidelinesNews TipsContact UsReport an Error NEW YORK — His words sounded measured and calm, suggesting unyielding optimism the outcome will turn out as he envisioned.Derek Fisher once provided that for the Lakers, complementing Kobe Bryant with a respected locker room presence and clutch shots. All of which helped produce five NBA championships. After exuding those qualities he once perfected as a critical role player, Fisher has since discovered the same approach in his first season as the New York Knicks’ head coach has not crafted the same result. The Lakers (13-34) visit the New York Knicks (9-34) on Sunday at Madison Square Garden amid little intrigue beyond whether a loss could help either team’s chances to land a top draft pick. So much that ESPN dropped the game. “I’m definitely going to search for what I think will get the guys the best out of themselves,” Fisher said. “But I’m also a very strong believer in an individual taking responsibility for themselves. We’re breaking ourselves down through that process in order to build ourselves back up. We want to be the best of the best.”Fisher conveyed optimism for one obvious reason. After winning five of his 11 NBA championships coaching the Lakers, Phil Jackson became the Knicks’ president last season on a five-year deal worth $60 million. Fisher’s assistants include Jim Cleamons, Kurt Rambis and Rasheed Hazzard, figures who once contributed to the Lakers’ championship success on Jackson’s coaching staffs. Yet, Fisher’s new task in rebuilding the Knicks could prove more challenging than sinking a game-winning shot with .04 seconds left, as he once did in the 2004 Western Conference semifinals against the San Antonio Spurs. “He’s learning us and we’re learning him,” Knicks forward Carmelo Anthony said of Fisher. “It’s his first crack at it at being a head coach in New York. So a lot of pressure comes with that. I think he’s handling it very well. He’s only going to get better.” The Knicks went through a stretch this season when they lost a franchise-record 16 consecutive games. Persistent injuries to Anthony (left knee, seven), Amare Stoudemire (knee, ankle, nine), Andrea Bargnani (right calf, hamstrings) and Jose Calderon (right calf) have kept them out of a combined 67 games. Stoudemire lauded Fisher’s teaching, but acknowledged a “learning curve” in executing the triangle offense Jackson once used. center_img The Knicks also took a short-term hit when Jackson traded All-Star center Tyson Chandler and Raymond Felton to the Dallas Mavericks last offseason for Calderon, Samuel Dalembert and Shane Larkin. Jackson recently waived Dalembert and traded J.R. Smith and Iman Shumpert in a three-team deal with Oklahoma City and Cleveland, a move that secured them a 2019 second-round pick and loads of cap space for next offseason. The Knicks may have won four of their past six games. But Fisher often stands or sits on the sideline with a stoic expression while stomaching another loss. “I don’t believe, especially in sports, that it’s necessary for everybody else to know what you’re expecting and feeling,” Fisher said. “When our record is flipped the other way, you’re not going to see me smiling and doing cartwheels on the sideline, either. I’ll still be carrying myself the same way because I’m always thinking about what else we can do to get better. “Some people may like it or may not. But I think over time it works well.”Anthony noted unspecified times Fisher has shown anger in practice and behind closed doors. But there remains a reason behind Fisher’s even-keeled approach. He remembered Jackson acting just as calm through both the mostly good and occasionally bad times. “Phil always has a presence whether he’s physically there or not. When he’s physically here, watching practice or at games, he’s observing and watching with very few direct comments.” Fisher said. “We talk every day about the team and what he’s seeing and observing. But I’m still being myself and being my own man and coach. “He wants us to do well. He’s offering his thoughts and information. But he’s not coaching a team. He’s the president of the team. He respects those boundaries. He was never a micromanager as a coach and I don’t think he is as an executive.”That approach once brought the Lakers instant success. But they are experiencing struggles similar to the Knicks. The Lakers will miss the playoffs for the second consecutive season and are on pace to end the 2014-15 season with their worst record in franchise history. Yet, Fisher still credited Lakers coach Byron Scott for instilling a no-nonsense culture, one he still remembers when Scott mentored Fisher his rookie season 18 years ago.“He was willing to sit down, talk to you and say the uncomfortable thing in reminding you as a young guy how you need to go about your business,” Fisher said of Scott. “You see that in his leadership style as a coach with holding guys responsible.”The Lakers hired Scott last season partly because of his connection with the franchise where he won three NBA championships during the Showtime Era. Yet, the Lakers passed over Fisher because they wanted candidates with head-coaching experience. “None at all,” Fisher described as the Lakers’ level of contact. “I can’t say it would’ve interested me or not.”Fisher stressed he “didn’t assume or expect” the Lakers to show interest. After all, the Lakers traded Fisher and a first-round pick in 2012 to the Houston Rockets for Jordan Hill, both to clear salary and trim their backcourt. Did that forever taint Fisher’s relationship with the Lakers’ front office?“It impacts the way you view certain things. But I don’t have any negative feelings toward Mitch (Kupchak), Jim (Buss) or Jeanie (Buss) or anybody there,” Fisher said. “Could it have been different? Should it have been different? I think you can write enough words to describe that. But I’m not carrying it around with me at all. What the organization did by drafting me and all the experiences I had, I have no complaints at all.”Fisher refused to complain about his current gig, either. He remained determined he will rewrite his script with much more polish than his rough first draft. “I’m loving every moment of this opportunity and this job here,” Fisher said. “I love being here and love working with Phil. Even with our struggles, I love what it is we’re trying to do. Success is not found in just the results. We’re going through what successful people have to do.”last_img read more

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