Home buyers crippled by stamp duty

Growing stamp duty bills on residential properties are impeding Australian home buyers' ability to enter the housing market, according to a new report.


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State Governments are fully aware of the increase in property prices over the past 5 years and the resultant 'windfall' in stamp duty that this would create. Much needed money for rail extensions, hospitals, schooling and all the other seemingly bottomless pits that never go away...which means that lowering stamp duty is not a high priority for State any Government, which is bad news for home owners. Some emphasis is placed on first homebuyers, but there is nothing for people that want to relocate after their first home. Maintaining stamp duty at record levels is restricting a healthy property churn and is not helping the economy. Surely State Governments realise that less stamp duty equals more sales which will generate more income for their pet projects!

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