Moody’s Investor Services has warned that state budgets will inevitably come under pressure when the nation’s property market inevitably corrects:
Stamp duty revenue across 2022 is forecast to be significantly above the average over recent years before moderating to 2025.
“The transactional nature of transfer duties increases the vulnerability of state revenue to a housing market slowdown,” Moody’s vice-president and senior credit officer John Manning said in a note to clients.
