Fall in housing loan numbers as new dwellings, investors hit

first_imgRefinancing figures, especially with owner occupiers, dropped in February, latest figures show. Picture: Darren EnglandLATEST figures show measures to crack down on housing loan numbers may be working with borrowing for new dwellings and investors seeing the largest falls.The figures, contained in latest Australian Bureau of Statistics housing finance figures out today, may be an good sign for the Reserve Bank and APRA that their measures to take the heat out of housing are having an impact.$420,000 windfall in 10 monthsHeritage-listed Cliffside apartment building set for auctionGet The Courier-Mail’s Real Estate and Property News in your InboxThe total value of home loans excluding renovations fell -2.7 per cent in February compared to January, according to ABS seasonally adjusted estimates, with investor lending dropping a massive -5.9 per cent, and the biggest fall in numbers (-7.1 per cent) hitting new dwellings.Housing Industry Association senior economist Shane Garrett said it was the second consecutive month of falls.“Even though lending volumes were down in both January and February, they are still inreasonably healthy shape as a result of the number of newly built homes reaching settlement,” he said.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 4:03Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -4:03 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p360p360p240p240pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenBuilding bridges with finance04:04“With housing affordability now such an important issue on the policy radar, it is critical thatMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agosettings remain favourable to the delivery of new housing supply at reasonable cost. In thislight, today’s comments from the Treasurer regarding more investment in affordable housingstock are to be welcomed.”The biggest fall in numbers (-7.1 per cent) hit new dwellings. Picture: Jodie RichterThe figures showed investor loans were valued at $12.923 billion in February, while owner occupied housing was $19.997 billion.The number of loans taken out by owner occupiers was down -0.5 per cent in February 2017 to 54,816 and the number of loans taken out to buy established properties also fell -0.4 per cent.Queensland figures showed that over the month, the number of owner occupied housing commitments fell 3.4 per cent seasonally adjusted, with 379 less buyers in February than there were in January. The figure was still a solid 10,649 buyers in February.A noticeable slowdown in refinancing was also apparent, especially with owner occupiers where the number of refinancing commitments fell (-3.5 per cent) in February compared to a 4.2 per cent rise in January.Excluding refinancing the number of owner occupied dwelling financed rose 1 per cent according to seasonally adjusted estimates, with those constructing new dwellings up 1.7 per cent.last_img read more

Southern SportMods new on opening night at Super Nationals

first_imgBOONE, Iowa ­– The first Southern SportMod champion will be crowned at the upcoming IMCA Speedway Motors Super Nationals fueled by Casey’s.A complete program for the class will be run on opening night Monday, Sept. 5 at Boone Speed­way.Purse and entry fee amounts are to be determined.“We wanted to make this announcement now so drivers can make plans to attend,” IMCA President Brett Root said. “A lot of them will be traveling from two or three states away so we hope to get sponsorship involved to bump up the purse to help cover travel expenses.”The division won’t be part of the Sept. 3 Prelude to the Super Nationals show at Boone but drivers can hotlap that evening.Their qualifying format will be similar to the one used for Sport Compacts. The main event field will take the green flag three wide and 10 deep.“The problem we have had adding Southern SportMods at Super Nationals in the past has been the day,” Root said. “After the Late Models rained out on Monday, they moved to Thurs­day and it worked out very well. They put on a great race and we had a lot of people tell us they liked having Late Models race later in the week.”Deery Brothers Summer Series Late Models return to the Thursday program at Super Nation­als, headlining a Sept. 8 program that also includes Modi­fied and Stock Car qualifying.That creates an opening in the schedule that is fitting for the Southern SportMods,” said Root. “It’s a good oppor­tunity for us to add them to the event without creating new logisti­cal problems, particularly pit parking.”Smiley’s Racing Products will give away the first Southern SportMod entry at the Jan. 31 Racelogic seminar in Mesquite, Texas.last_img read more