Queensland low bucks the Australian home loan trend

THE average new mortgage in Australia has hit an all-time high of $367,000 according to mortgage broker Australian Finance Group.

But Queenslanders have been more conservative than the rest of the country, with the average new mortgage in Queensland sitting at $325,000.

The average home loan in New South Wales is now $433,000; in Western Australia it is $391,000 and $386,000 in the Northern Territory.

Australians have been increasingly taking on bigger mortgages, with the average new home loan 6.4 per cent larger than it was in May 2009.

Queensland bucked this trend, however, with new mortgages taken out in November $10,000 smaller than the previous month and close to the state’s January low of $323,000.

Home loans in both Victoria and New South Wales grew since May – up 12.1 per cent and 10.7 per cent respectively.

The news comes after the Reserve Bank of Australia announced on Tuesday that it was lifting the official cash rate for the third successive time.

The latest 0.25 per cent rise, when passed on by lenders, will cost home-owners with a $367,000 mortgage on a standard variable rate an extra $56 a month, while those slugged with a 0.45 per cent rate hike face an increase of $102 per month.

First-home buyers accounted for just 13.7 per cent of all new mortgages in November, down from their peak of 28.1 per cent in March.

Investors have been steadily returning to the property market over the past four months and represent a third of all new mortgages in November.

Of those who took out a new mortgage in November, only 2.1 per cent opted for a fixed-rate, down from 3 per cent the previous month.

Total numbers of new mortgages were lower than previous months.

Mark Hewitt of Australian Financial Group said: “October and November are seasonally strong months in the calendar, but we’ve seen two straight months of decline.

“Larger average mortgages and greater activity by investors are usually signs of a confident market but confidence is still fragile.

“We believe the RBA hiked rates too quickly and too soon.”

Source  :  www.thenews.com.au

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WA leads rise in June building approvals

WA has led the charge with a rise in building approvals in June, fresh figures reveal today. 

There was a 21.1 per cent rise in building approvals in WA last month, compared to a national rise of 9.3 per cent.

But the recovery followed an 11 per cent decline in May, taking the latest tally of 11,086 new construction projects to a level lower than where it was in April.

Still, the latest monthly increase was stronger than a market forecast for an eight per cent rise.

Approvals in the volatile apartment-building sector surged 27.7 per cent while detached housing numbers increased by a much smaller 4.9 per cent.

On an annual basis, overall building approvals are down 14.3 per cent.

Apartment building approvals are also 45.7 per cent weaker compared with a year earlier.

Construction activity was also more robust in Victoria, where approvals rose by 17.4 per cent, followed by an 11.3 per cent increase in South Australia.

NSW had a more modest recovery of 3.4 per cent.

Building approvals went backwards in Tasmania, shrinking by 7.6 per cent, and Queensland, which suffered a 1.9 per cent decline.

Source  :  www.thewest.com.au

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Keep Australia Working’ marks 1000 jobs in first week

The Rudd Government’s partnership with business and community leaders to Keep Australia Working has secured more than 1000 jobs in its first week, Minister for Employment Participation, Senator Mark Arbib, announced today.

Senator Arbib today joined Local Jobs Champions Bill Kelty and Lindsay Fox at the third Keep Australia Working Forum at Casula, where he announced 240 jobs in Canterbury Bankstown and South Western Sydney Employment Priority Area.

The Australian Government is providing $3.7 million from the $650 million Jobs Fund for three Western Sydney Projects.

The 240 jobs in Western Sydney bring to more than 500 the positions funded through the Jobs Fund and come on top of the 250 jobs in South Eastern Melbourne and 23 jobs in Northern Tasmania announced at jobs forums earlier this week.

The private sector is also playing a significant role in boosting employment with Lindsay Fox announcing this week he would employ an extra 450 staff over the next two years at Linfox and Woolworths announcing 60 jobs for its new logistics centre in Launceston.

“The Rudd Government is doing everything possible to keep Australians working,” Senator Arbib said. 

“This week by working together – the Government and industry – we’ve managed to create or protect more than 1000 jobs.

“Not every week will be as successful as this week in keeping people in work. There will be ups and downs, because the global recession is far from over.

“But this week has shown what can be achieved by working together.”

Parliamentary Secretary for Employment Jason Clare said community leaders, business representatives and job service providers would today join Government to develop a regional employment strategy for Canterbury Bankstown and South Western Sydney.

“The Keep Australia Working forums allow the community to maximise the benefits of the Government’s Economic Stimulus Plan and Jobs Fund and develop localised responses to the impact of the global recession.

“We want to find job opportunities for local businesses and workers, particularly in areas like Western Sydney where unemployment is a growing problem.”

Mr Clare said Local Jobs Champions, Lindsay Fox and Bill Kelty, would bring their considerable experience and wisdom to the table.

“The Local Jobs Champions will help forum participants identify local skill and labour needs and develop directions for the future,” Mr Clare said.

“It’s great to have Lindsay Fox and Bill Kelty on board. Few people understand the Australian economy better than these blokes, they’ve been through it before. They’re travelling with us around the country helping areas hit hardest by the global recession.”

Today’s forum is the third in a series being rolled out in employment priority areas across Australia as recommended in the Keep Australia Working interim report presented last week to Deputy Prime Minister Gillard by Senator Arbib and Mr Clare.

There are now 20 employment priority areas around the country:

• Canterbury Bankstown and South Western Sydney (New South Wales)
• Illawarra (New South Wales)
• Richmond Tweed and Clarence Valley (New South Wales)
• Mid North Coast (New South Wales)
• Sydney West and Blue Mountains (New South Wales)
• Central Coast Hunter (New South Wales)
• South Eastern Melbourne (Victoria)
• North Western Melbourne (Victoria)
• Ballarat Bendigo (Central Victoria)
• North Eastern Victoria
• Ipswich Logan (Queensland)
• Cairns (Queensland)
• Townsville Thuringowa (Queensland)
• Caboolture Sunshine Coast (Queensland)
• Southern Wide Bay Burnett (Queensland)
• Bundaberg Hervey Bay (Queensland)
• Northern and Western Adelaide (South Australia)
• Port Augusta Whyalla Port Pirie (South Australia)
• South West Perth (Western Australia)
• North West/Northern Tasmania.

For more information on Keep Australia Working, visit http://www.deewr.gov.au/Employment/KeepAustraliaWorking/Pages/home.aspx

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WA gripped by Lotto fever with record $90m jackpot at stake

Two in three West Australian adults are expected to take part in a $20 million splurge on lottery tickets in the hope of scooping Australia’s record $90 million Lotto jackpot next week.
  
Lottery fever has gripped WA and it is estimated five times more tickets than usual will be bought in the State for Tuesday’s Oz Lotto draw.
  
The $90 million prize pool is unprecedented in Australian lottery history and is the culmination of nine weeks of rolled-over Oz Lotto prizes.
  
Lotterywest chief executive Jan Stewart said lottery ticket sales in WA were up 6 per cent on last year and were expected to jump even higher for Tuesday’s bumper draw.
  
“Our experience is that irrespective of the economic climate, people seem to continue to spend the few dollars each week they have been accustomed to spending on a Lotto or scratchie ticket and to find a little more when there is something special on like a big Oz Lotto or Powerball jackpot or a Saturday Lotto Superdraw,” Ms Stewart said. 
  
WA is a lottery-loving State, a fact which could be attributed to the ban on poker machines that has reduced gambling choices in the West.
  
Whether WA is luckier or just plays more, the State is full of Lotto winners. Over the past 12 months, seven of the 12 major (Division One) wins in the Oz Lotto game across Australia have gone to WA.
  
West Australian adults spend an average of $5.98 every week on the lottery and the clamour for tickets for Tuesday’s draw has shown they are spending more than ever.
  
Greg Mills, of Yokine Lottery Centre, said the number of people coming in to buy Lotto tickets had soared from an average of 250 a day to 350 in the run-up to Tuesday’s game.
  
“It’s pumping. People all want a share of this $90 million. It’s creating a lot of interest,” Mr Mills said.
  
Sadly, though, the chances of winning are slim — 45 million to one.
  
To improve your chances, it might be worth taking note of which numbers come up most often. The number 5 has been drawn 14 times over the past 50 Oz Lotto draws, while 45, 35 and 28 have come up 13 times each.
  
At the other end of the scale, the number 38 has emerged only three times in the past 50 draws. Numbers 6, 14, 36 and 39 were almost as unlucky, with four appearances each. 
  
You could also buy your ticket in one of WA’s lottery hotspots. Kalgoorlie has had the most Division One wins over the past five years, with $31.7 million won by eight players.
  
Perth CBD is also a lucky place, with more than $26.4 million shared between 11 Division One ticket holders over the same period.
  
Morley has had the highest number of Division One winners with 12 tickets sharing $9.8 million.
  
The biggest Division One win of all time was $58.7 million, which was won in Victoria in the Powerball game in June 2008.

Source  :   www.thewest.com.au

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Two more swine flu cases in WA, Scotch College student ill

NEARLY 100 staff and students at WA’s exclusive Scotch College are being tested for swine flu after an 11-year-old boy fell ill with the virus.

Eleven-year-old Scotch College student, Harry, who returned from Melbourne on June 1, has tested positive for the H1N1 virus.

A 23-year-old woman, who returned from Melbourne on June 3, was also confirmed to have it.

Harry had flown to Melbourne with a youth football team and on returning to Perth went on a school music camp before developing symptoms.

He did not return to school after the camp because he was feeling sick.

“I had a really burning temperature,” Harry said yesterday from home quarantine.

“It was really hot. I was sweating.”

Harry’s mother, Jennifer, said: “It was a really big shock. If there was no talk of swine flu and no Melbourne issue I would have just thought it was the same old cold or flu he has had before.”

Eighty-nine students and 10 staff also on the Scotch College camp are being tested for the virus and anyone with flu-like symptoms is being urged to stay home.

Four teammates suffering “flu symptoms’

It is believed four other boys in Harry’s football team are suffering from flu-like symptoms.

Scotch College acting principal Peter Freitag said there were no immediate plans to close the school down.

“It would be very difficult to close the school,” he said.

“It’s a boarding school, we have 170 boarders.

“We wouldn’t want to close the school unless we have to.

“At this stage we’re not anywhere near that.”

However, Health Department’s communicable disease control director Paul Effler did not rule out temporarily closing the school if students on the music camp tested positive to swine flu and had since been to school.

WA flu tally reaches four

The Health Department confirmed that WA’s swine flu tally had reached four.

“We are contacting the students, parents and teachers who participated in these events with the young boy and the close contacts of the young woman,” Dr Effler said.

“The close contacts of the cases have been asked to remain in home quarantine and have been provided with anti-viral medication as a precaution.

“The school has been very co-operative in helping us reach students, families and staff in a timely manner.”

More than 1000 cases of swine flu have been confirmed in Australia, with the most in the eastern states.

On Thursday the Health Department issued a statement extending its voluntary quarantine policy for children who have recently travelled to areas affected by swine flu, including Victoria.

Dr Effler said there was no need for the public to panic because in most instances the swine-flu virus appeared to cause a relatively mild illness.

“I would encourage people to make sure they cover their nose and mouth if sneezing or coughing, to wash their hands frequently (and) most importantly, stay home if you are sick to limit the spread of the viruses in our community,” he said.

Dr Effler said people should continue to get their annual influenza vaccine, particularly people in vulnerable groups, including those aged over 65 and under five.

While the influenza vaccine won’t protect against the new strain of swine influenza, it will protect against serious illness caused by seasonal influenza.

If you think you have swine flu phone your doctor or call healthdirect Australia on 1800 022 222. For more information on swine flu visit 

Department of Health website  www.health.wa.gov.au

Source  www.news.com.au

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WA is fastest growing state with 2.204 million people

WESTERN Australia has the fastest growing population in Australia, according to the latest figures from the Australian Bureau of Statistics.

WA’s population growth rate has hit 3.1 per cent for the year ending December 2008 – well ahead of every other state or territory.   

Next was Queensland, growing at 2.5 per cent, Northern Territory, 2.0 per cent, Victoria, 1.9 per cent, ACT, 1.7 per cent, New South Wales, 1.4 per cent, South Australia, 1.2 , and Tasmania, 1.0 per cent.

WA, along with Queensland, had the highest rate of intra-state migration, with WA attracting 6300 people from other states and territories and Queensland luring 21,200 interstaters.

At December 31, 2008, WA’s population was 2,204,000 — the fourth largest in Australia, with NSW the most populous state (7.04 million), followed by Victoria (5.36 million) and Queensland (4.35 million).

Nationally the population increased by 1.9 percent  from 2007 — the highest growth rate recorded since the 1950s and 1960s, which was boosted by post war migration and high birth rates. 

These rates compare with a 1.2 per cent growth rate recorded five years ago.

At the end of 2008 Australia’s population had swelled by 406,100 people to 21,644,000.

Of the 406,100 new Australians,  62 per cent, or  253,400, were overseas immigrants. The excess of births over deaths contributed 152,700. 

The states losing the most people to interstate migration were New South Wales (down 22,700), South Australia (down 5200) and Victoria (down 1000).

Source www.news.com.au

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WA flu man cleared as cases top 400

WA’s only confirmed case of swine flu has been cleared after a week in quarantine, Ten News has reported, while the nation’s swine flu tally has passed 400.

The  man, who tested positive last week after going to hospital with mild flu symptoms, was in home quarantine with his wife and their eight children.

Australia’s Eastern States has been particularly hard-hit by the flu and Victoria has recorded a massive surge in cases, most of them children.
 
By this afternoon the number of confirmed cases in the State had risen to 306, a rise of 94 in 24 hours.

Most of the new cases in Victoria also involved young people aged five to 18, prompting a twelfth Victorian school to be closed today.
 
According to Federal Health Department figures, there were 64 confirmed cases in NSW, 18 in Queensland, six in South Australia, four in the ACT, and one each in Tasmania and the Northern Territory.
 
However, Queensland Health officials say the State now has 22 confirmed cases, the latest being teenage girls.
 
Federal Health Minister Nicola Roxon said the Government was assessing whether to elevate the nation’s response to the disease from the contain to the sustain phase.
 
Victoria is already preparing to move into the sustain phase, under which quarantining is limited to those who share a home with a confirmed swine flu patient.
In the contain phase, anyone who has had contact with a swine flu patient is quarantined voluntarily and given antiviral drugs for a week.
 
The nation’s chief medical officer, Professor Jim Bishop, said the advice to people with flu-like symptoms may change as swine flu evolved.
 
At present, people who come down with flu-like symptoms, especially if they have recently travelled to an affected country, are being advised to seek medical advice.
 
Professor Bishop said in the future, fit and healthy people may be told to stay at home and only those in at-risk groups, including those with seek medical advice and asthma, will be advised to visit their GP.
 
“A lot of people that have these sorts of symptoms of course will, as this thing progresses, stay at home and not necessarily seek medical advice if in their own case it is a at-risk groups— and that we expect to see more of,” he said.
 
“As we move along in this marathon race, what we will need to do is obviously identify those people that we’re concerned about.
 
“If there is large numbers involved, we want to make sure the system is looking after people we most want to look after.”
 
The swine flu-affected ship Pacific Dawn docked in Sydney this morning after NSW Health authorities gave it the all-clear.
 

The P&O ship was forced to cut short its trip to the Barrier Reef last week when three crew tested positive for the virus.
 
A senior NSW Health doctor and 25 nurses boarded the ship in Brisbane on Saturday, testing all 2500 people on board during the two-day voyage to Sydney.
 
While disappointed the cruise didn’t go to plan, passengers said they still enjoyed the journey.
 
David Geers, from Brisbane, joked it was the perfect place to be quarantined for seven days.

 “If you had to be quarantined somewhere I couldn’t have thought of a better place … because we got fed, the drinks tasted the same and the staff were fantastic,” he told reporters at Darling Harbour.
 
More than 15,000 people in 53 countries have tested positive to swine flu, with deaths totalling 99.

Source www.thewest.com.au

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