“Taxation is driving the market into the ground. It is fiscally naive, irresponsible and unconscionable not to reduce the stamp duty rates.
“There is empirical evidence that shows reducing taxation will increase the number of transactions and therefore it is a win – win. Government will get additional revenue and the consumer will get a more affordable product.
“The government can save a lot of time and money consulting the community on how to solve housing affordability - the answer to affordability is increasing supply and reducing property taxes.
“After it has all been said and done there has been more that has been said than done. We need action not words.
“Albert Einstein said ‘insanity is doing the same thing over and over again and expecting different results’. Persisting with outdated stamp duty rates and impediments to supply will not improve affordability.
“Government continues to over tax the property market and then says they will look at affordability, and then don’t understand why things aren’t improving.
“It’s time to conduct a full review of property taxes, in particular stamp duty brackets, and make a real change.”