Stamp duty bounce saves NSW Budget

The NSW government has announced a 2019-20 budget surplus of $702 million in its mid-year economic review, down from a forecast a surplus of $1.016 billion in the June budget. The government expects surpluses to average $1.9 billion over the next four years, with stamp duty revenue being boosted by a rebound in Sydney’s housing market:

Our State’s financial position remains strong with a surplus of $702 million now forecast in 2019-20 (down by $314 million since the Budget) and average surpluses of $1.9 billion across the next four years (up from $1.7 billion).

…this Half-Yearly Review has forecast transfer duty revenue of $7.5 billion in 2019-20, up from $6.9 billion.

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