At the 2021 Census, 21% of homes in City were owned with a mortgage (the ACT: 40%), 15% were owned outright and 62% were rented. The median mortgage repayment was $1,950 a month and the median rent was $550 a week. With more renters than the ACT average, plenty of locals are working towards buying their first home.

Home ownership figures: ABS 2021 Census, City Suburb and Locality, used under CC BY 4.0. Mortgage broker figures from BrokerScore, updated October 2026.

Buying your first home in City

City is in the $1,000,000 price cap area for the Australian Government 5% Deposit Scheme (the ACT). Eligible first home buyers can buy up to that price with a 5% deposit and no lenders mortgage insurance.

Australian Capital Territory grants and concessions

From 1 July 2026, first home buyers, and people who haven’t owned property in the past five years, can pay no stamp duty, with no income test or price cap.
The ACT no longer pays a First Home Owner Grant. Check eligibility with the ACT Revenue Office.

General information only, checked 9 October 2026. Sources: 5% Deposit Scheme price caps, Australian Capital Territory. Eligibility rules apply, so confirm with a mortgage broker.

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Mortgage broker City FAQs

How many mortgage brokers are there in City?

There is 1 mortgage broker on BrokerScore based in City or serving the area, plus 33 more within 5 km.

Who are the top rated mortgage brokers in City?

By BrokerScore, the top rated mortgage brokers in or near City are Clarity Home Loans (6.7), Trilogy Funding (6.7) and Mo'r Mortgage Options (6.7). BrokerScore is a rating out of 10 that reflects reviews and how well a mortgage broker looks after the people who contact them. Mortgage brokers can’t pay to change it.

How much does a mortgage broker cost in City?

Most mortgage brokers in City don’t charge you for a standard home loan. They’re usually paid a commission by the lender once your loan settles. Some charge a fee for complex loans, so ask upfront. Every mortgage broker must give you a credit guide that explains how they’re paid and any fees.

What’s the average mortgage repayment in City?

At the 2021 Census, the median mortgage repayment in City was $1,950 a month, and 21% of homes were owned with a mortgage. Interest rates and prices have changed since then, so a local mortgage broker can work out what repayments would look like for you today.

What is the 5% Deposit Scheme price cap in City?

City falls under the $1,000,000 price cap that applies in the ACT. Under the Australian Government 5% Deposit Scheme, eligible first home buyers can buy up to this price with a 5% deposit and no lenders mortgage insurance. Some suburbs span more than one postcode, so confirm with a participating lender or mortgage broker.

Should I use a mortgage broker or go straight to my bank?

A bank can only offer its own home loans. A mortgage broker compares loans from the lenders on their panel. They must act in your best interests, and they handle the paperwork through to settlement.

How do I choose a mortgage broker in City?

Compare BrokerScores and read recent reviews, check they help with your situation (for example first home buyers, refinancing or self-employed borrowers) and see which lenders they work with. Ask how they’re paid and how many lenders they’ll compare for you. You can message any mortgage broker on this page for free.

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