Last drinks called for NSW stamp duty recovery

Tuesday, 21 April 2020

The pre COVID-19 rebound in Sydney property prices and new mortgages (see next chart) worked work wonders for the New South Wales Budget.

According to data from the NSW Office of State Revenue, annual stamp duty receipts in March had rebounded by $560 million (12%) from their August 2019 low:

In addition to rising prices, stamp duty receipts also benefited from a 8% rebound in annual property transfers:

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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.