Young couple holding out keys

Are you ready to own your own home?

Working out whether to jump onto the property ladder or continue renting can be a confusing decision. Especially when housing affordability is such a huge issue in Australia.

Luckily, the ACT annual budget which was handed down earlier this year has changed the game for new home buyers—and heartbeats are racing. Continue reading

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A Year in Review with John Minns and Hannah Gill, 2017

2017 was a big year for Canberra. Light rail construction was in full swing, our first tram arrived and who could ever forget Lonely Planet naming our great city the third best in the world.

It was a big year for Canberra property, too. With the median house price surpassing $700,000 for the first time and approximately 37 suburb records broken (source: Allhomes), 2017 saw Canberra sitting near the top of the highest growing capital cities in Australia.

But what does this all mean? And where is the market heading in 2018? We sat down with John Minns, Chief Operations Officer of Independent Property Group and Hannah Gill, Managing Director of Independent Property Management, to find out. Continue reading

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How Your Parents Can Help You Buy A Home

Buying a home is a huge step, but one that can be facilitated by the helping hand of your parents. We’re going to be up front with you and say that not everyone’s parents are in a position to help their children buy a home. The Perspective team has done some digging and it turns out there are more ways in which your parents can help you buy than doling out raw funds. We investigate the possibilities for parental assistance in purchasing property below:


Receive a Cash Gift

One of the hardest things about purchasing property is having the ability (and patience!) to accumulate a deposit. If your ‘rents have funds to spare, one of the best ways in which they can offer assistance to First Home Buyers is to give a non-refundable cash gift. This can either act wholly as the deposit or contribute to what you’ve already saved to increase your deposit. If the cash gift is your entire deposit, it needs to be non-refundable (not a financial agreement – see below), but if it’s less than 10% of the property value, your lender may require 3 months’ worth of genuine savings. Continue reading

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I couldn’t afford a home…then I saw a Mortgage Broker.

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

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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

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