RBA warns of dwelling risk if conditions deteriorate

first_imgConstruction and cranes have been a familiar sight over the inner city for the last three years. Picture: Richard WalkerTHE Reserve Bank has warned Australia risked an above average rise in dwellings being cancelled if market conditions deteriorate.The latest RBA board minutes, released Tuesday, expected to see a high level of dwelling investment over “the next year or so” but warned of “some risk” of above average cancellations.It said private dwelling investment had already “declined unexpectedly” in the September quarter, when “poor weather had disrupted construction”.“The large amount of work in the pipeline was expected to support dwelling investment at high levels over the next year or so, although there was some risk of more cancellations than usual if conditions in apartment markets deteriorated.”More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours agoRBA governor Philip Lowe arriving at a function in Sydney. Picture: James CroucherThe board, which is presided over by RBA governor Philip Lowe, has tread carefully in recent years in its attempts to prevent the housing boom from turning to bust. It found low interest rates and increased housing prices had driven a surge in dwelling investment nationally over the previous year, with Sydney and Melbourne pulling away from the rest of the market.RBA warned that increased supply and lower population growth had already depressed rents and apartment prices in Perth “and, increasingly, Brisbane”, while established housing markets in Sydney and Melbourne had picked up over the second half of 2016.The board noted “a small increase” in variable housing lending rates for investors but “little change in overall lending rates for owner-occupiers and in business lending rates”.The latest ASX RBA rate indicator was showing a 95 per cent market expectation of no change to the official 1.5 per cent cash rate at the next RBA board meeting on March 7.last_img read more

Schmidt optimistic over Ross

first_imgJoe Schmidt is “quietly confident” tighthead prop Mike Ross will be fit in time to ease Ireland’s front-row injury crisis against South Africa. Press Association Ireland will launch their three-Test Guinness series against South Africa at the Aviva Stadium on Saturday, November 8, without at least 15 regulars missing through injury. James Cronin will miss the entire series with ankle trouble, compounding loosehead prop resources and adding to Jack McGrath’s workload with Cian Healy a long-term absentee. Schmidt admitted he had to resist the temptation to pull the likes of Ah You and Archer out of club action this weekend, believing they must sharpen up ahead of potential Test action. “Obviously Rodney Ah You is playing for Connacht against the Ospreys, and Stephen Archer will have some time at Munster,” he said. “Tadhg Furlong will play for Leinster and Declan Fitzpatrick for Ulster, those are our other options. “It’s a catch-22, because Nathan White was the starting prop at Connacht and has really dominated the starting time (and) Rodney needs the game time. “Tadhg Furlong certainly needs to play; he’s been sat behind Michael Bent. “Declan Fitzpatrick has been massively underplayed because he’s had a succession of injuries and Stephen Archer the same. “So it’s not a lot of rugby for those guys in the last two weeks to then have a week off and go into a Test match, it would be pretty difficult. “So we’re just going to hold our breath and hope that those guys come through okay and that we’ll have some options live from that group.” Stephen Archer and Rodney Ah You are standing by to cover Ross from the bench, but the duo boast just three caps and no Test starts between them. Schmidt lamented the “catch-22” of sending undercooked Archer, Ah You and further tightheads Declan Fitzpatrick and Tadhg Furlong into provincial action this weekend just a week away from facing the Springboks. “Nathan White sustained some tendon damage in his biceps in an incredibly innocuous event, but a frustrating one for both him and us,” said Schmidt of the Connacht prop now sidelined for 16 weeks. “He just caught a player running past him, and it was just the angle, just the way it happened; it’s just one of those things. “Mike Ross is progressing pretty well, so we are quietly confident. He’s taken part in some of the more static aspects of training. And he involves himself in some of the more static aspects of the game, so hopefully he comes through and can be involved in some of those. “Absolutely it’s a concern (that Ross has not played for a month). But Mike has been working really hard, in his defence. “There’s nothing like game conditions though, to bring game awareness. You want guys to have had that; you want it to be second nature, what they are doing. “If it was a perfect world things might different but you work in the world that’s available to you, and I’d still say it’s an incredibly exciting challenge to play one of the form teams in the world, and certainly one of the top-ranked.” Ireland boss Schmidt conceded it is a worry Ross has not featured in a month through groin trouble, but still backed the 34-year-old to cope against the Springboks next weekend. Connacht tighthead Nathan White had been lined up for his Test debut against South Africa, but suffered biceps tendon damage in a training clash on Thursday. last_img read more

Perfect U.S. beat Sweden 2-0 to top Group F

first_imgLE HAVRE, France (Reuters) – Holders United States beat Sweden 2-0 on Thursday to maintain their perfect women’s World Cup record and top Group F, setting up a last-16 clash with Spain.Lindsey Horan netted the tournament’s fastest goal after three minutes and Jonna Andersson scored an own goal as the U.S. beat the record for most goals (18) in the Women’s World Cup group stage.Sweden, who had also qualified before kickoff, finished second in the group with six points and will face Canada for a place in the quarter-finals.“It’s a good performance and we wanted to continue to build momentum,” U.S. coach Jill Ellis told a news conference.“We have things to work on to make sure we’re sharper next game, and the players know that. It was a rival game and I thought the players showed a great mentality.”The U.S. did not concede a goal in the group phase.“It’s huge and a big part of what we’re trying to do both offensively and defensively. We talk about the idea of 360-degree defending where everyone is defending,” said midfielder Tobin Heath.The U.S. made a fast start when Horan tapped in the opening goal from close range from Megan Rapinoe’s corner.That equalled Norway’s record group-stage tally of 17, set in 1995, but despite Sweden’s determined resistance, the mark seemed destined to be beaten at the Stade Oceane.Five minutes into the second half, Heath’s header took a deflection off Andersson as the U.S. doubled their lead.The goal was confirmed after a VAR review which ruled that Heath was not offside.Chile beat Thailand 2-0 to finish third in the group, but were eliminated from the tournament. Thailand ended without a point.last_img read more