Category: jppchihz

Brisbane newbies among the top winners if super deposits go ahead

first_imgBrisbane-based housesitter Isabelle Costello is among millennials going all out to save up for a home deposit, in her case using the app YourHomeMyHome to exchange pet and home care for free rent. Picture: Tara Croser.BRISBANE, Adelaide, Perth and Hobart first time househunters will be the biggest winners if a proposal to allow superannuation to be used as a home deposit goes ahead.HOW Queensland tastes have changedRBA board singling Brisbane out but the numbers are holdingSIGN up to receive all The Courier-Mail real estate news direct to your inboxIn the latest CoreLogic Property Pulse, research analyst Cameron Kusher said prices in Sydney and Melbourne and superannuation savings levels of first time buyers meant that it would be cities outside the two major ones where super-assisted purchases would be feasible.“Money accumulated in funds is relatively immature and unlikely to sufficiently boost buying power in order to enter into the market (in Sydney or Melbourne).”He said some estimates put the superannuation savings level of 25 to 34 year olds at around $50,000, which would be a 10 per cent deposit on a $500,000 property.“Ultimately, a purchase price of $500,000 is not going to allow the potential buyer to access very many detached homes in Sydney and Melbourne, particularly if they want to live closer to the city.”More from newsMould, age, not enough to stop 17 bidders fighting for this home6 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoBrisbane has 155 suburbs where the median house price was $500,000 or less.He said CoreLogic research showed that “there are far greater options for potential first home buyers with a purchase price of $500,000” outside of Sydney and Melbourne.CoreLogic figures showed only 4.1 per cent of Sydney suburbs had a median house value of $500,000 or less (32 suburbs), compared to 39.6 per cent in Brisbane (or 155 suburbs), 47.9 per cent in Adelaide (184 suburbs), 37.8 per cent in Perth (115 suburbs), and a whopping 76.6 per cent in Hobart (72 suburbs). Only 18.7 per cent of Melbourne suburbs had a median house price of $500,000 or less (83 suburbs).Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:47Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:47 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenMonthly Core Index: March 201700:47He said a budget of $500,000 would allow buyers to pick up a unit in at least three quarters of all suburbs across Brisbane, Adelaide, Perth and Hobart.“Both the ABC data and our research highlights that access to superannuation to purchase a home would largely help buyers outside of Sydney and Melbourne.”Research shows millennials have been going all out to save up a home deposit including house-sitting, petsitting, moving in with parents, homesharing, second jobs and ditching the car, with some such as Isabelle Costello exchanging pet and home care for zero rent via YourHomeMyHome.com.au. App co-founder Rebecca Nankervis said it was “incredibly popular with the 18-25 year old age bracket. Millennials are using house sitting as means to save money while saving for a home deposit.”last_img read more

Norway’s Government Pension Fund Global reports first-quarter loss

first_imgGrande said falling interest rates in the quarter resulted in price gains on the fund’s fixed income investments.“However, lower interest rates have negative long-term implications for future returns on the fixed income portfolio,” he said.NBIM said the quarterly return on equities and fixed income undercut the benchmark indices by 0.2 percentage points.In a news conference, Grande explained this underperformance, saying it was due to the fact the GPFG’s bond holdings had a shorter duration than did the bond portfolio represented by the reference index.On the equity side, he said underperformance in the three-month period was due broadly to differences between exposure in the fund’s external asset manager portfolios and the reference portfolio.Differences between the fund’s exposure to the financial sector and that of the benchmark were particularly to blame for the underperformance, Grande said. During the quarter, the Norwegian government took money out of the GPFG for the first time.Rules around the fund allow the government to take up to 4% of the fund’s investment return every year.NBIM said the withdrawals amounted to NOK25bn in the first quarter.Inflows to the fund – formerly known as the oil fund – from the country’s petroleum activities revenue have diminished, largely due to the collapse of the oil price.The domestic currency’s strength on foreign exchanges in the first quarter, following a general weakening over the last two years, took its toll on the GPFG’s overall value.Krone appreciation decreased the value of the fund by NOK286bn between January and March, NBIM reported.At the end of March, the GPFG had a market value of NOK7.08bn, down from NOK7.47bn at the end of December 2015.The fund’s equity allocation slimmed in the first quarter to 59.8% of the total portfolio from 61.2% at the end of December.The fixed income allocation increased to 37% from 35.7%, while real estate held the same proportion at 3.1% of the fund. Norway’s giant sovereign wealth fund lost NOK85bn (€9.2bn), or 0.6%, in the first three months of this year, with investments in two of the fund’s three asset classes shrinking in overall value during the the period.According to its first-quarter report, the Government Pension Fund Global’s (GPFG) equity investments made a loss of 2.9% between January and March, fixed income assets a positive return of 3.3% and property investments a loss of 1.3%.Trond Grande, deputy chief executive at Norges Bank Investment Management (NBIM), which manages the fund, said: “The first two months of 2016 were characterised by high market volatility and concerns for a Chinese slowdown.”But the turbulence eased considerably in March, he said.last_img read more

Mandate roundup: PIC, Aon Retirement Plan, NN Investment Partners

first_imgThe Pension Insurance Corporation (PIC) has agreed a pension buy-in with the Aon Retirement Plan for £900m (€1.1bn), insuring the liabilities relating to the consultancy’s UK employees.The transaction, primarily funded with Gilts, covers most of the pensioner liabilities across two sections of the segregated plan.The buy-in is the third such deal between PIC and an Aon-sponsored scheme.In 2014 and 2012, it concluded two buy-ins with the Aon Minet Pension Scheme, for £210m and £100m, respectively. David Burton, independent chair of the scheme’s trustees, said: “We are very pleased to have been able to conclude this transaction at a time of considerable market volatility.“By securing this buy-in asset, we have taken a significant step in our long-term de-risking plan, following a smaller transaction with another insurer last December.”Matt Barnes, senior actuary at PIC, said: “We are proud to have been able to help the trustees of the Aon Retirement Plan with this significant de-risking exercise, highlighting the attractiveness of pension funds holding a buy-in as a matching asset in place of Gilts or other strategies.“This was the first sizeable pension insurance transaction under the new Solvency II regime, showing that large buy-ins priced under Solvency II remain an attractive option for trustees.”The lead adviser to the trustees was Aon Hewitt, with CMS Cameron McKenna providing legal advice.In other news, the €270m Dutch scheme Pensioenfonds Pon has appointed NN Investment Partners as its fiduciary manager.The multi-company scheme, with 11,000 former workers and pensioners, comprises two pension funds of Dutch VW importer Pon, building company Geveke and bicycle manufacturer Gazelle.The Gazelle scheme had already contracted out its fiduciary management to NN IP when it joined the multi-scheme in 2014.Bas Sprong, chairman at the Pensioenfonds Pon, said: “By choosing NN IP as fiduciary manager, we will achieve synergy benefits for all compartments of our pension fund.“We consider NN IP as an independent asset manager, which enables us to carry out a proper investment strategy and implementation. It has a good track record and provides tailor-made advice.”Last week, the €2bn sector scheme for public libraries, Bibliotheken, extended its fiduciary contract with NN IP for an indefinite period.The fiduciary manager also welcomed the €300m pension fund of merchant bank NIBC as a new client earlier this year.NN provides the NIBC scheme with strategic advice, liability-driven investment, operational balance management and management reporting.last_img read more

Tunisia to supervise activities of all mosques in the wake of…

first_imgAlgeria condemns terrorist attack in Tunisia The Tunisian government reportedly has started shutting down mosques it claims are inciting violence. Prime Minister Habib Essid earlier this week accused them of ‘spreading venom’. But there’s been a mixed reaction to the clampdown. CCTV’s Adel El Mahrouky reports from Sousse in Tunisia. Tunisia Attack Solidarity: Public Iftar Held Following Deadly Terror Attack Related World Leaders Condemn Tunisia Attacklast_img

P10M lost in Leon public market fire

first_imgGUTTED BY FIRE. This is what remains of the public market of Leon, Iloilo that was struck by fire late afternoon on July 18, 2020. An estimated 100 stalls were reduced to ashes. The Bureau of Fire Protection has launched an investigation. It is not discounting the possibility that electrical short circuit may have caused the destructive blaze. IAN PAUL CORDERO/PN Gov. Arthur Defensor Jr. personally checked the market. He vowed to help rebuild it. ILOILO – Fire struck the public market of Leon, Iloilo late Saturday afternoon, gutting an estimated P10-million worth of merchandizes and properties. “Nagsakit ang dughan ko sang ginalamon sang kalayo ang akon baligya,” she said. The BFP said some 100 stalls were razed. It is known as the “Vegetable Basket of Iloilo Province” due to its production of asparagus, cabbages, baguio beans, sayote, eggplants, carrots and other vegetables./PN With the help of firefighters from neighboring towns, the fire was put out in an hour. The exact cause of the fire was yet to be determined as this as being written but the BFP was not discounting short circuit as a possible cause.center_img Calugdan lost all her fruits to the fire. No one died or got injured in the fire but most market vendors lamented not having saved their merchandizes. Leon is a second-class municipality. According to the 2015 census, it has a population of 49,875 people. The blaze quickly spread to other stalls which were mostly made of light materials. The fire started at around 4:45 p.m. from a stall at the back of the market, initial investigation of the Bureau of Fire Protection (BFP) showed. Stall owner Julia Calugdan wept. She had been selling fruits at the market for two decades.last_img read more

Hobby Stock, SportMod qualifying starts today, Deery Series program at Boone moved to Thursday

first_imgBOONE, Iowa (Sept. 3) – Qualifying races for Hobby Stocks and Northern SportMods are on the schedule for Labor Day at the IMCA Speedway Motors Super Nationals fueled by Casey’s.All start times will remain the same.The complete Deery Brothers Summer Series for Late Models program will move to Thursday, Sept. 6. That’s a switch also made several years ago, which will accommodate race schedules for both days, and with an improved forecast and pit park­ing.Setting the stage for 36th annual IMCA Speedway Motors Super Nationals fueled by Casey’s, 285 cars in four divisions saw Prelude action at Boone Speedway.Defending Super Nationals champion Richie Gustin, already on the 2019 Fast Shafts All-Star Invitational ballot, won the Modified feature and $1,000.Jake McBirnie was the Northern SportMod winner, Andrew Borchardt was best in the Stock Cars and Eric Stanton topped the Hobby Stock main.Fourteen Hobby Stock heats and 15 Northern SportMod heats are on the Monday schedule with qualifying features to follow for both divisions.Two hundred and seventy-two cars will see their first Super Nationals action this evening, three more than on opening night last year.Jesse VanLaningham was the first winner of Super Nationals, checking out from the rest of the field in Monday’s first Hobby Stock heat and then drawing the pole start for his qualifying feature.last_img read more

Richmond clergy member killed in car crash

first_imgRichmond, In. — The pastor of St. Elizabeth Ann Seton Parish and Seton Catholic Schools, Kevin Morris, 63, Richmond, was killed in a head-on crash in Wayne County on Tuesday.Reports indicate Morris was traveling eastbound around 2 p.m. in the 3800 block of U.S. 40 when he crossed the centerline into the path of a vehicle driven by Amber Whitt, 27.Whitt suffered a fractured leg and possible neck injury. Morris was declared deceased at the scene. Whitt’s passengers, an 8-year-old passenger suffered a suspected broken jaw and a 10-year-old was not injured.The crash remains under investigation.last_img read more

United announce new regional partnership

first_imgManchester United have announced a three-year regional partnership with leading Thai telecommunications company True Corporation Plc. Press Association In addition to the True Group becoming United’s official mobile partner and MUTV broadcaster for Thailand, it has also become an associate match sponsor for the opening tour game against Singha All Stars in Bangkok on July 13 – David Moyes’ first as manager. “With more than 70 million viewers tuning into a United game in the first seven months of last season, the partnership is predicted to be popular amongst fans,” United said in their statement. last_img read more

Boise State looks for home win vs No. 4 San Diego St.

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditNo. 4 San Diego State (25-0, 14-0) vs. Boise State (17-9, 9-5)ExtraMile Arena, Boise, Idaho; Sunday, 4 p.m. ESTBOTTOM LINE: Boise State looks for its fourth straight win over No. 4 San Diego State at ExtraMile Arena. The last victory for the Aztecs at Boise State was a 56-53 win on Jan. 16, 2016. February 14, 2020 Associated Press .MIGHTY MALACHI: Malachi Flynn has connected on 37.2 percent of the 145 3-pointers he’s attempted and has gone 7 for 27 over the last three games. He’s also converted 83.2 percent of his free throws this season.STREAK STATS: San Diego State has won its last nine road games, scoring 75.4 points and allowing 61.1 points during those contests. Boise State has won its last 11 home games, scoring an average of 82 points while giving up 65.ASSIST DISTRIBUTION: The Aztecs have recently converted buckets via assists more often than the Broncos. Boise State has an assist on 31 of 72 field goals (43.1 percent) across its past three contests while San Diego State has assists on 42 of 83 field goals (50.6 percent) during its past three games.DID YOU KNOW: The stout San Diego State defense has held opposing offenses to a field goal percentage of 37.6 percent, the eighth-best mark in the country. Boise State has allowed opponents to shoot 44.7 percent from the field through 26 games (ranked 271st).___center_img Boise State looks for home win vs No. 4 San Diego St. For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comlast_img read more