Zachary Jamieson has just bought his first house at the age of 21. Pic Darren England.MORE than 60 per cent of Queenslanders living with their parents say they can’t afford to fly the family nest, according to a new survey on housing affordability.Home ownership is increasingly out of reach, but nine out of 10 Queenslanders are still holding on to the great Australian dream, the Galaxy Research survey commissioned by property data firm, Corelogic, reveals.The survey of 2000 Australians aged between 18 and 64 found a growing proportion of younger generations are finding themselves trapped in the family home — increasingly into their 30s — as they try to scrape together a deposit.Nationally, 1 in 5 millenials expect to be locked out of the property market until at least their 30th birthday.But Queenslanders still living at home are the most motivated to move out and buy, with nearly half saving money towards a deposit.The survey found getting the deposit was one of the biggest impediments to buying a home, with a third of Australians admitting they could not manage 10 per cent.It comes as the nation’s biggest mortgage insurer this week raised concerns about industry pressure on borrowers to have larger deposits.Genworth Mortgage Insurance said home buyers were scraping together deposits with forms of “unsecured debt”, such as parental guarantees — something Zachary Jamieson has taken advantage of.HOW MUCH OF A DEPOSIT CAN FIRST HOME BUYERS AFFORD?13% no deposit35% could put down 1-9%27% could put down 10-19%18% could put down over 20%(Source: Corelogic)The 21-year-old saved for a year for a deposit for his first home while living with his father, but ended up asking him to act as a guarantor for a loan.“I only had to pay a small amount of rent while I was living there, so it did make all the difference,” he said.“I definitely wanted to get into the market early because I could see myself getting comfortable and just staying there forever.”He bought a two-bedroom home in Waterford West for $255,000 a month ago and now spends half his weekly wage on mortgage repayments.“It’s just a matter of staying on top of it and making sure you’re budgeting in a smart fashion,” he said.GETTING A DEPOSIT AN IMPEDIMENT TO AFFORDING A HOME48% = Qld47% = WA46% = Tas44% = Vic42% = NSW42% = SA/NT38% = ACT(Source: Corelogic)Ray White Waterford principal Kate Handley said about 30 per cent of her agency’s clients were first home buyers and it was becoming more common for them to seek financial assistance or guarantees from parents to get on the property ladder.She said it was still common for first home buyers to be priced out of the market by investors competing for the same property.“It’s really disappointing for them and we see it happen a lot,” she said.When it comes to housing affordability, the Corelogic survey found 60 per cent of Queenslanders believe it is worse than it was last year and just as many expect it to worsen further next year.CONCERN ABOUT HOUSING AFFORDABILITY71% = ACT68% = NSW66% = Vic63% = Tas60% = Qld56% = SA/NT44% = WA(Source: Corelogic)Corelogic’s director of research Tim Lawless said that was significant given home values had increased substantially more in NSW and Victoria than in Queensland.“Income growth is lower in Queensland, which is probably one of the reasons behind the more pessimistic outlook,” he said.But it’s not just would-be first home buyers who are struggling.The research also reveals 12 per cent of Queensland homeowners are having difficulty paying their mortgage — the second highest number in the country after Tasmania.WHICH STATES ARE STRUGGLING MOST WITH MORTGAGE STRESS?Tas = 13%Qld = 12%WA = 12%SA/NT = 8%Vic = 6%More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoNSW = 5%ACT = 4%(Source: Corelogic)And this figure would jump to 28 per cent if interest rates increased by up to 1 per cent.The younger generation is the most vulnerable when it comes to mortgage stress.If interest rates rose by up to 1 per cent, 35 per cent of millennials claim they would struggle to keep up with mortgage repayments.“A lot of affordability challenges are embedded with the millennial generation,” Mr Lawless said.He was surprised the survey found 96 per cent of Australian millenials thought owning a home was important.“I thought attitudes among younger generations had changed a little bit and the desire for home ownership had dissipated,” he said.Ahead of the federal budget being handed down on Tuesday, respondents revealed what they believe could be done to improve housing affordability.Three quarters of Queenslanders think removing or reducing stamp duty would help, while a majority also think more jobs should be created in areas that have lower priced housing.STRATEGIES FOR IMPROVING AFFORDABILITY73% — Reduce or remove stamp duty72% — Reduce or remove stamp duty for first home buyers71% — Create government grants or concessions for first home buyers65% — Create more jobs in areas with lower priced housing63% — Appoint a federal housing minister to improve affordability61% — Improve transport options and commuting60% — Release more vacant land57% — Limits on investment buying via regulation57% — Reduce costs paid by developers to build new homes53% — Build apartments close to major work centres51% — Reduce overseas migrants arriving in Australia(Source: Corelogic)“In reality it’s a federal, state and local government issue and involves each of those layers of government working together to manage housing demand and deliver appropriate housing supply, and ensure supply is connected with efficient transport infrastructure,” Lawless said.And he said there were conflicting interests in each layer of government.“When you look at the level of dwelling supply in southeast Queensland, there has been quite a bias towards dense stock which has outnumbered detached dwellings,” he said.“High rise apartments are more skewed towards investor demand, yet you’ll find the vast majority of first home buyers are young families.”The full Corelogic report can be found at www.corelogic.com.au/housingaffordability.
“Lars expressed a desire to head Danica Pensjon in Norway, and since we will continue to be able to benefit from his extensive network and strong competencies in our activities in Denmark, the move is right for both the Danica Group and for Lars, who will be heading this important task,” Klitgård said. Danica Pension is bolstering its Norwegian business with the appointment of one of its top executives to lead the operation.Lars Ellehave-Andersen, who came to Danica Pension in 2015 in a high-profile hiring coup from rival PFA, will be chief executive of Danica Pensjon in Norway.Per Klitgård, chief executive of Danica Pension, Denmark’s second largest commercial pensions provider, said: “With Lars Ellehave as CEO in Norway, we are strengthening our Norwegian business, where we see great potential.”Since August 2016, Ellehave-Andersen has been chief commercial officer (CCO) on Danica Pension’s board, having previously had a seven-month spell as chief executive of the Norwegian arm when he first switched to the company from PFA. Lars Ellehave-AndersenEllehave-Andersen is to be replaced as CCO by Søren Lockwood, who is currently chief executive of SEB Pension. Danica is in the process of buying SEB Pension’s Danish business.Lockwood will join Danica Pension’s executive board once the acquisition has been approved by the authorities, the company said.Ole Krogh Petersen has been promoted to the board as senior executive vice president, and will take on the role of chief operating officer (COO).Klitgård said that with Lockwood as CCO, the company had “the best possibilities of creating value for our customers with the acquisition of SEB Pension”.“We now have the right management team to secure an even stronger position for Danica Pension throughout Scandinavia,” he said.Danica’s 2017 resultsReporting preliminary 2017 financial results, Danica Pension said its investment return for the year gave the company “a mid-ranking in a field with very narrow margins separating the providers”.Customers in Denmark received returns of between 4.8% and 12.3%, while clients with the “Danica Balance medium risk” product, and 20 years to retirement, received 9.5%.The company made a DKK1.9bn (€255m) profit for the year before tax and premiums grew 17.5% to DKK39.7bn.The increase in premium income was partly due to a 47% increase in gross premiums via parent company Danske Bank in Denmark, it said.Out of its three Nordic markets, Sweden generated most business growth last year for Danica Pension, with premiums rising 39% there compared to 10% in Denmark and 8% in Norway.
Young. Talented. Aggressive. Developing. These words have a single common denominator: Wisconsin men’s soccer.Despite missing the NCAA tournament (the bracket was released Monday night), the Badgers have a bright future to look forward to as the wounds of another season cut too short slowly begin to heal.A team predicted to finish dead last in the Big Ten in the preseason coaches’ poll, Wisconsin finished out a hard fought campaign to finish No. 3 in their conference. Players and coaches may have a hard time appreciating the positives right now, but this year proved that the UW men’s soccer team is back to being a contender and has regained its status as one of the top programs in the Big Ten.Finishing out the year at 10-8-2, Wisconsin showed tremendous improvement from last year’s four-win rebuilding campaign. In just their second year under head coach John Trask, the Badgers proved that a still youthful team has not only taken their skills to a new level on the field, but that they are growing into a cohesive unit that could soon have them hoisting a Big Ten title trophy. So while it’s nice to reflect on the team’s achievements this season, Wisconsin soccer fans should already be salivating at what’s to come.Friday’s loss to Penn State in the second round of the Big Ten Tournament marked the end of the college careers of forward Josh Thiermann, defender Colin Mani and key reserve defender Arnel Zahirovic, but the Badgers will retain nine of their 11 regular starters next season. Trask also returns four of his top five scorers for 2012 along with a host of younger players whose gametime experience doesn’t reflect their underclassmen status.The key to the Badgers’ success next year is junior midfielder Tomislav Zadro, who, in his first year in Madison, led the squad with 20 points, showing his ability to spread the ball and score with six goals and eight assists. Regularly jumpstarting the UW offense all season with bending kicks and precise passes, the Canada native was named an All-Big Ten selection at the end of the year and looks to be in for a career year as a senior. Zadro showed the ridiculous numbers he can put up as a freshman at Illinois Central College in 2009 – 14 goals and 14 assists in 19 games – and should turn into an even more prolific scorer as he grows more comfortable with his teammates.Arguably the second-biggest weapon for the Badgers in their 2012 campaign will be freshman defender A.J. Cochran. A true freshman who coaches praised all year as one of UW’s best players, Cochran didn’t blow up the stat box with five points on the year, but still looks to have a greater upside than anyone else on the team. An incredibly aggressive defender who displayed all year that he wasn’t afraid to use his 6-foot-3, 195-pound frame to shut down the Big Ten’s most dynamic offenses, Cochran will anchor Wisconsin’s defense next year. After starting 18 games in his first year, Cochran was unanimously selected to the Big Ten All-Freshman Team and is capable of becoming one of the conference’s most feared defenders as a sophomore.Helping Zadro on the offensive end will be forward Chris Prince and midfielder/forward Nick Janus, two players who showed major development in their sophomore campaigns. Prince and Janus, with four and three goals on the year respectively, offer a threatening duo of size, speed and aggressiveness. Prince, a speedier forward with great ball skills, will likely be one of the Badgers’ top scorers behind Zadro next season. The more physical Janus – who demonstrated his potential with an assist and a goal to hand Indiana its first loss of the year – will add yet another scoring threat to the Wisconsin midfield.Rounding out the critical players next year will be the man protecting UW’s net in goalkeeper Max Jentsch. Jentsch surrendered an average of just 0.83 goals per contest and could often be credited with keeping the Badgers in tight games with acrobatic saves. As he continues to become more comfortable as the starting Wisconsin goalkeeper, look for him to keep even more balls out of goal as a junior next year.From goalkeeper to defense to the midfield, the Badgers are loaded with talent in what could be a special (think Rose Bowl-esque) year for the UW men’s soccer squad. Throughout the year, coaches attributed critical mistakes to Wisconsin’s lack of experience and the fact that the team was still gaining familiarity with each other’s game, and any fan could see that growth as the season progressed.Another year for the transfers and freshmen to build the unspoken connections on the field and an NCAA tournament berth may be a rather low bar to meet in 2012. Though the expectations will certainly be higher and Wisconsin won’t be able to draw motivation from its lack of respect by other teams, Trask could take the program back to its once dominant level, such as in 1995 when UW won a national championship.Without another transfer miracle, Camp Randall may not be the great source of success it has been the past couple years next season, so why not follow the UW men’s soccer team? After all, this is their time to shine.Ian is a junior majoring in journalism. What do you think of the Wisconsin soccer team’s chances to do something big next year? Can they handle the pressure? Let him know at email@example.com or tweet @imccue.
Sumner Newscow report â€” Results of the 2015 Wellington Chamber of Commerce Golf Classic held Saturday are as follows:First FlightÂ First place – Â Chaney Stallbaumer, Buddy Robertson, Brian Peck, Kurt Eck:Â 52, $110 each.Second place – Dave Gaston, Laurie Gaston, Grant Ledbetter, Hunter Leichner: 52, $80 each.Third place – Â Nick Becker, Mark Miller, Leander Greene, Derek Harrison: 53, $60 each.Second FlightÂ First place – Adam Ricke, Monty Troutman, John Ott, Shelley Hansel: 61, $110 each.Second place – Kyle Roach, R. Hagemann, Brice Lowe, David Alfaro: 61, $80 each.Third place – Greg Renn, Austin Renn, Nick Anderson, Joey Stewart: 62, $60 each.Third FlightÂ First place – Dalton Wiley, Walt Gould,Tyler Norris, Doug Norris: 67, $110, ea.Second place – Mark Goodrum, Curt Guinn, Jeff Masonhall, Brent Reed: 67, $80 ea.Third place -Â Vanessa Sawyer, Melissa Meeker, Cherity Elder, Megan Ginterby: 67, $60 ea.Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments