Posted on 24/03/2024

You’re paying more stamp duty than your parents

Stamp duty is costing homebuyers up to six times more than it did a generation ago, with home prices outpacing pay packets over the past four decades.

New PropTrack-e61 Institute research finds that stamp duty costs have grown at least fourfold for median-priced homes in Australia’s capital cities compared to average incomes since the early 1980s.

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Posted on 19/02/2024

Why the surging cost of stamp duty is damaging the market

Stamp duty is costing homebuyers up to six times more than it did a generation ago, with home prices outpacing pay packets over the past four decades. PropTrack Senior Economist Angus Moore reveals how much stamp duty costs have climbed for Aussie homeowners.

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Posted on 14/10/2022

Stamp duty reforms don’t go far enough to help homebuyers

First homebuyers will be given the opportunity to choose between an upfront payment or a smaller annual property tax under reforms aimed at making home ownership more affordable in NSW.

The First Home Buyer Choice scheme is part of a multi-billion dollar housing package to be unveiled in the 2022-23 NSW Budget.

Under the new initiative, first homebuyers who opt into the property tax will pay an annual property tax of $400 plus 0.3 per cent of the land value of the property.

But while these reforms are a step in the right direction to bridge the affordability gap, they don’t go far enough as PropTrack economist Angus Moore explains.