Who are mortgage brokers and what do they do?

Here at Perspective, we don’t usually hand over the reins to a single author, but we felt Andrew’s first step to home ownership would be better off coming from the horse’s mouth. You see, with a bit of prodding, Andrew visited a mortgage broker last week. And this was his experience:


My name’s Andrew. I’m 25 years old, married to my high school sweetheart and finally finding my feet in the full-time workforce, having dabbled in numerous ventures both here and overseas since my early 20s.

I’ll be straight up with you…I’m not really a “money” guy. In fact, my money-managing is generally so poor that it’s not uncommon for me to stray dangerously close to an aneurysm when paying by card, so frequent are the “Declined – see bank issuer” messages. Continue reading

A dark day for Canberra home owners

June is a consistently crazy time of year. With invoices and finances needing to be settled before the close of financial year, as well as the fact that it’s just downright miserably cold, you could be forgiven for not noticing that the ACT Budget has come and gone, and changes will take effect as of 1 July, 2017.

What you probably didn’t expect is that the government would introduce a tax increase on the Lease Variation Charge (LVC) of at least 300% with seemingly little to no consultation and no significant publicity to speak of. The consequences of this increase will become clearer with time, but initial suggestions include decreased house values in the central established suburbs of the Inner North and Inner South, not enough housing supply for those seeking to live in these areas and fewer townhouses becoming available – the exact housing product that First Home Buyers and downsizers are after. Continue reading

What Canberrans Want In A Home

So many factors come into the equation when looking for a home. Suburbs, house types, amenities, price ranges, schools, nightlife, space and surroundings are all considerations in the great house-hunt, so we caught up with four home buyers at different stages of life to ask about their purchases, and what influenced their decision.


Ed Timovic – early 20s, single, apartment in Turner

Ed is 23 years old. His most prized possessions are his Oktoberfest stein from Munich, his Bent Spoke membership and his Toyota Hilux. Needless to say, Ed’s the party boy in his family, is currently “in between girlfriends”, and wanted to move out of home to be closer to the action. He’s worked full-time as a carpenter since his late teens in his uncle’s construction company, and to his credit, he’s worked incredibly hard to get himself into the financial position he’s in (even if a fair chunk of his income has been funnelled into Bent Spoke’s running costs). Continue reading

Queanbeyan: Another option for First Home Buyers?

The sun rises in the east, Cersei Lannister is straight up bad news and, in other shocking revelations, housing affordability is still making headlines down under. This time, though, it’s for the right reasons. Our friends over the border in NSW have finally received the memo and decided to actively make it easier for First Home Buyers to enter the market.

The ACT already effectively scrapped stamp duty for First Home Buyers, opting instead for a nominal fee of $20. It is with a heavy sense of regret, though, that we admit defeat (by a whole $20).

The NSW government have ditched stamp duty altogether for First Home Buyers on all homes up to $650,000, and introduced discounts for stamp duty on homes up to $800,000. They’ve also increased the surcharge on stamp duty for foreign investors and removed deferred stamp duty payments in a bid to cool the market for entry-level buyers.

But what are we talking in terms of raw dollars with the new legislation? With the market in Canberra continuing to flourish with an ever-increasing population, the median house price is now almost $200,000 more than Queanbeyan’s average of $527,000.

Continue reading