Highrise Harry’s media foghorns continue his campaign to abolish foreign buyer stamp duties today at the AFR:
Alluding to remarks by Meriton boss Harry Triguboff that he might have to reduce his apartment prices in the wake of the surcharges, Ms Berejiklian said that, given so many people were worried about housing affordability, the NSW government would be “happy to wear that consequence”.
Mr Triguboff labelled the new taxes “very dangerous”, coming as they did on top of moves by the banks to tighten up lending to foreign buyers.
He also urged caution in light of the decline of the mining sector.
“We have nothing else except real estate. We have to be very careful,” Mr Triguboff told the AFR.
True indeed, Highrise. But that’s why policy must shift away from property and towards the repair of everything else.