NSW stamp duty receipts enjoy last hurrah

The recent strong 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 February had rebounded by $442 million (9%) from their August 2019 low: In addition to rising prices, stamp duty receipts have benefited from a 6% rebound in annual property transfers: The next chart shows the rebound in stamp duties and transfers more clearly: This is as good as it will get, however, with sales volumes tanking in March and prices soon to follow.