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
Catherine still has possessions in storage from the last time she moved. It didn’t seem worth finding spaces for them all when she knew she’d have to box them all up again in a few months, so now she’s paying for a storage unit as well as her rent. She’s already moved four times in the past five years, and her lease is up in six weeks. She’d love to buy some plants for her balcony, or choose her own paint scheme, but it doesn’t seem worth it when she’ll just have to move again shortly.
At Perspective, we hear several tales like Catherine’s. These are tenants who want nothing more than to settle down in one spot, find their favourite local cafe and introduce their children to the nearby schools. But instead, they’re asked to move by landlords who want to sell up, move in or renovate. Some landlords also only offer six-month leases, and because there’s so much competition for the longer leases, tenants like Catherine might find themselves with no choice but to accept six months. Continue reading
It’s the one word that has the power to make any tenant squeamish and reduce even the most fearless to tears when it comes close to vacate time…bonds. That one word can signify the difference between being reimbursed a month’s worth of rent or never laying eyes on it again, and bond refunding is (unfortunately for both sides of the equation) still an extremely prevalent issue. Continue reading
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
August 3rd. The temperature hit 2 degrees last night and there’s frost on the grass outside. Two weeks ago the heating went out, and the landlord’s phone has gone unanswered ever since. It’s like he’s guessed why we’re calling. It’s a good thing there are three families living in this three bedroom apartment. The extra body heat keeps the youngest kids from crying, although James is starting to ask questions, like why his home doesn’t look like his friends’ houses. Why are ten people huddled around an oil heater? And why are there wires hanging loose from the fluro lights in the bathroom?
It’s a story divorced from our view of life in Australia, but a recent study shows a rise in slum-like living conditions in Australia; a million Australians reside in poor living conditions, and more than 100,000 live in derelict housing. There are number of social issues at the root of these awful statistics, but one of those issues is unscrupulous landlords.
Last month domain.com published an article The answer to renters’ woes: A mandatory test for landlords that we here at Perspective found an interesting. Should potential landlords sit for a licence? Continue reading