Fitch Ratings says Australian mortgage arrears have reached a decade low after declining 18bp to 0.91 per cent during 3Q15 according to its latest report.
Two-thirds of the improvement was due to the inclusion of AUD$8.7bn worth of new issuance from 1Q15. Fitch’s Dinkum Index would still have reached a decade low, even after removing the impact of thesetransactions.
House prices in Australia’s capital cities have strengthened 11.02 per cent yoy to September 2015 and have had a two-fold impact on mortgage performance. Strong house prices have enabled borrowers to sell their properties to cure arrears, reducing the 90+ days to 0.41 per cent – the lowest level since February 2006. Additionally, prices served to reduce principal losses on sale, maintaining the annualised loss rate unchanged qoq at a low 0.02 per cent.
Self- employed borrowers continue to experience financial difficulties; Low-Doc 30+ arrears increased to 6.97 per cent in 3Q15 from 5.72 per cent in 2Q15. This is despite serviceability factors being as a good as it gets with stable unemployment over the quarter, a low stable cash rate and standard variable rate, and low CPI.
Fitch believes material improvements in 2016 are unlikely and in the current borrower environment, arrears can be attributed to factors outside the economy such as divorce, extraordinary expenses and illness.
Fitch’s Dinkum RMBS Index tracks the arrears and performance of the mortgages underlying Australianresidential mortgage-backed securities (RMBS).
The full report entitled, ‘The Dinkum RMBS Index – 3Q15′ is available at www.fitchratings.com
Originally Published On: http://www.theurbandeveloper.com/
Moreton Bay Rail Line shared pedestrian & cycle path
The State Government has been called upon to open a shared pedestrian and cycle path to make-up for the major signalling delays on the new Moreton Bay Rail Line.
“We are hoping they will open the shared pathway so the people can … use something that should already be open,” Mango Hill Progress Assoc President Laurence Christie said.
“It would go some way to relieving the disappointment,” he said.
A spokeswoman for Transport Minister Stirling Hinchliffe said: “The minister has requested the Department of Transport and Main Roads investigate opportunities to open the bikeway in advance of the rail line opening.”
Residents in Mango Hill, and North Lakes said they wanted to use the pathway to cycle to Petrie Station and to access the schools on the line.
Original article published at www.couriermail.com.au by Jamie-Leigh Mason, North Lakes Times 4/6/16
Brisbane’s new state-of-the-art private cancer centre
Northlakes, north of Brisbane is now home to Australia’s first private integrated cancer centre
The Icon Integrated Cancer Centre combines a 15-chair day hospital, two radiation therapy units and an on-site pharmacy.
The doors were opened to the centre at North Lakes, between Brisbane’s CBD and the Sunshine Coast, yesterday.
All treatments, including haematological, chemotherapy, radiation or a combination, are delivered on the site.
Icon Group chief executive Mark Middleton said the centre had the capacity to deliver treatments to 15,000 patients per year.
“From the start, the patient and their needs are first,” he said.
“The integrated centre approach means we are working as one team, supporting the patient and the result is a comprehensive service delivered by familiar faces who understand the individual needs of their patients.”
North Lakes is the first of three integrated centres operated by the Icon Group, a private specialised cancer care organisation.
The group plans to open another in Melbourne in mid-June 2017 and a third in Canberra, expected to open in late 2017.
Original article published at www.couriermail.com.au by Amelia Broadstock, North Lakes Times 27/5/16
North Lakes and Mango Hill Police Station has its first female acting officer-in-charge
NORTH Lakes/Mango Hill Police Station has its first female police officer leading the station, since it opened in 2009.
Senior Sergeant Kate Pausina joined the North Lakes crew last week as acting officer-in-charge after an impressive resume in the blue uniform.
Since she was sworn in to the service in 1999, Sen-Sgt Pausina has spent time in juvenile justice, child sex offences, Coroner’s Office, intelligence and strategy, road safety and, most recently, acting officer-in-charge at Albany Creek Police Station.
“I always wanted to join the police, but my mum wouldn’t let me,” Sen-Sgt said. “So, instead, I studied nursing and was a registered nurse for four years before I decided to do what I really wanted to.”
Sen-Sgt Pausina said her mum was unhappy at first but had since become her biggest supporter, along with her police officer husband and their two children.
Sen-Sgt Pausina last year completed her Masters of Suicidology – the prevention of suicide.
“That is something I am really passionate about,” she said.
“In the Coroner’s Office, you see the number of suicides is three times the number of road fatalities. And it is a preventable death.”
Sen-Sgt Pausina said she fondly remembered her first stint at the Pine Rivers Police District. She was based at Petrie from 2000 to 2003, and visited Mango Hill. “Mango Hill was just that – bushland and mango trees,” she said.
“There is a lot coming up in this area – major shopping developments, major infrastructure like the rail and, with that, a lot more people visiting the area.”
Originally Published On: http://www.couriermail.com.au/
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