The unprecedented rebound in the New South Wales property market has driven stamp duty receipts to an all-time high, according to data from Office of State Revenue.
In the year to July 2021, stamp duty receipts surged 54% to a record high $8.4 billion:
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Part of the lift in stamp duty receipts is attributable to rising transfer volumes, which surged 39% year-on-year in July to a record high 224,201:
In annual growth terms, the rebound in transfers and stamp duty receipts has also surpassed previous peaks:
The New South Wales Government should continue to bank strong stamp duty receipts given dwelling values are still rising by around 6% quarter-on-quarter.