Lending crackdown expected as property investors surge 27.5pc

first_imgInvestors have overwhelmingly targeted the established housing market. Picture: Taylor AdamFRESH alarm bells have begun ringing after property investors surged a whopping 27.5 per cent in latest data.The latest CoreLogic Property Pulse said January housing finance data showed investors committed to a total $13.8b in finance for investment properties, a 4.2 per cent rise overthe month but a massive 27.5 per cent surge year-on-year.The year-on-year rise was the largest annual increase since August 2014, according to CoreLogic research analyst Cameron Kusher. Cameron Kusher CoreLogic research analystMr Kusher said there was a clear bias towards established homes by investors, with $1.2b in commitments for new construction compared to $12.6b for established housing stock over the month.He said at the end of January there was $572.2b in investor credit outstanding to Australian lenders.“This figure accounted for 34.9 per cent of all housing credit outstanding ($1.637 trillion) and 21.5 per cent of total outstanding credit. This shows a significant rise in investor housing credit, in fact, two decades ago investor credit represented 21.8 per cent of total housing credit and 8.7 per cent of all credit.” More from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor7 hours agoSubstantial rises in dwelling values in Sydney and Melbourne have set off a flood of investment buying from homeowners there.“In fact, the value of investor housing finance commitments in January 2017 was just -5.3 per cent lower than its historic peak in April 2015.”He said in coming months there was expected to be “further tightening of lending policies to investors” which should see “a moderate slowing of demand from the investment segment, at least temporarily like we saw in mid-2015 and early 2016”.Much of the investment rise was coming off property owners in Sydney and Melbourne who were awash with equity.“With the substantial increase in dwelling values in Sydney and Melbourne over recent years, homeowners are able to use the equity in their principal place of residence to purchase investment properties,” Mr Kusher said. “However, while investor activity is rising, the proportion of total housing finance commitments to owner occupier first home buyers is at a historic low.”last_img read more

Davis Cup: Basic defeated Grigelis, BiH – Lithuania 2: 0

first_imgThe second meeting of the last round of the Second group of Euro Africa zone between Davis Cup teams of Lithuania and BiH played Laurynas Grigelis and Mirza Basic. Our tennis player won with the score 3: 1 in sets (7: 6.7: 5/7: 6/7: 0 /, 3: 6, 6: 3) and thus increased the lead of our team to 2: 0.After Damir Dzumhur defeated Lukas Mugevicius with the score 3: 0 (6: 2, 6: 2, 6: 3) in sets, Mirza Basic (157 ATP) played with Laurynas Grigelis (454 ATP).There was a great fight in the first set, and it was resolved in the tie-break, where Basic was more successful with the score 7: 5, who thus led 1: 0 in sets after 49 minutes.The second set ended in a tie-break as well first. Basic was more focused and better and won a tie-break 7: 0, as well as the second set to take the lead 2: 0 in the match.Grigelis must save in the third set to stay in the match, in which he succeeded. After 34 minutes of play he got the third set with 6: 3 in games.However, Mirza played in the fourth set much better and did not allow a surprise. He won the set with 6: 3 in games and enrolled victory against Grigelis and increased the lead of BiH against Lithuania on 2: 0. The match lasted for 2 hours and 48 minutes.To recall, with the victory over Lithuania, BiH would qualify in the first group of Euro Africa zone, which would be a historic achievement for BH Davis Cup team.Davis Cup:Lithuania – BiH 0: 2, Laurynas Grigelis – Mirza Basic 1: 3 (6: 7/5: 7/6: 7/0: 7 /, 6: 3, 3: 6)Other matches in the duel between Lithuania and BiH:Saturday, 2 pm:Tadas Babelis / Tomas Vaise – Mirza Basic / Tomislav BrkicSunday, 1 pm:Laurynas Grigelis – Damir DzumhurLukas Mugevicius – Mirza Basic(Source: D. B./Klix.ba)last_img read more