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

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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.

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THE RESIDENTIAL TENANCIES AMENDMENT ACT – WHAT DOES IT MEAN FOR YOU?

We heard on the grapevine that the powers that be have made some alterations to the Residential Tenancies Act 1997. Chances are, you saw “Residential Tenancies Legislation Amendment Act 2016” and fell asleep by the word “Amendment”. Fear not! The Perspective team has deciphered the at times convoluted legal jargon and compiled a straightforward summary of the changes that could affect you. Continue reading

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The Importance of Coffee and Real Estate Training — An Investigation

In the past week, a news.com.au article has come to our attention that makes some pretty hefty (yet not without merit) claims about the training, or lack thereof, of some real estate agents. The article’s entire premise rests on the notion that real estate agents have less training than baristas.

First of all: we applaud the level of skill shown by a great barista, and verily, we couldn’t do what we do without them—a world without coffee is no world we want to live in (shudder!). We love great coffee, and Canberra is lucky enough to boast our very own World Champion Barista, Sasa Sestic—so we know what we’re talking about here.

The goal of a successful agency, of course, is to have World Champion Agents. And that brings us to the subject of training.

Firstly, we would point out that not all training needs to amount to a University degree. Continue reading

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Death, drugs, dastardly neighbours – what do you need to disclose when selling a property?

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It’s a stunning property—a six bedroom colonial house with polished floorboards and large gardens in a quiet, leafy suburb in New Jersey. In June, 2014 it sold for a cool $1.4 million to a couple looking for a family home in which to raise their three young children. But the dream quickly turned into a nightmare when the couple received a series of insidious notes from the house’s stalker.

“My grandfather watched the house in the 1920s and my father watched in the 1960s. It is now my time.”

“I have been put in charge of watching and waiting for its second coming.”

“Do you need to fill the house with the young blood I requested? “Once I know their names I will call to them and draw them out to me.”

“Have they found out what is in the walls yet? In time they will.”

“I am pleased to know your names now and the name of the young blood you have brought to me. Will the young bloods play in the basement?” Continue reading

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