The pre COVID-19 rebound in Sydney property prices and new mortgages (see next chart) continues to work wonders for the New South Wales Budget.
According to data from the NSW Office of State Revenue, annual stamp duty receipts in April had rebounded by $653 million (13%) from their August 2019 low:
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In addition to rising prices, stamp duty receipts also benefited from a 9% rebound in annual property transfers: