Re: Australia housing bubble
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Quote:
Originally Posted by zipping
https://www.domain.com.au/news/nsw-b...h11kha-440629/
Sydney’s slowing property market is set to make a whopping dent in the state government’s coffers due to a massive reduction in stamp duty revenue.
The state stands to lose a total of $6 billion in revenue between last financial year and mid-2021, according to significantly revised stamp duty revenue figures in this year’s NSW budget, thanks to house prices coming off the boil in mid-2017.
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Sure but then they had a gain they didn't predict during the boom.
Also because the average house price has increased by around 40% in the last boom the stamp duty the government receives on every house sold is now 40% more than what it was 5 years ago.
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