Australian Property

NSW feasts at stamp duty trough

Leith van Onselen
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By Leith van Onselen

The New South Wales Government continues to cash in on Sydney property, where home prices have risen by nearly 40% in two years, according to RP Data (see next chart).

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As has been well documented, the explosion in housing prices has been driven by an unprecedented orgy of investor speculation, whose share of total finance commitments (excluding refinancings) in New South Wales hit a record high 60.1% in the year to June (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.
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