NSW stamp duty receipts keep on growing

Wednesday 17 June 2015

The New South Wales Government continues to make out like bandits on Sydney property, where home prices have risen by nearly 35% in two years, according to RP Data (see next chart).

This rapid lift in housing prices has, of course, been driven by an unprecedented orgy of investor speculation, whose share of total finance commitments (excluding refinancings) hit a record 59.0% in the year to April, with no end in sight (see next chart).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.