Stamp duty has remained unchanged in NSW for 32 years
despite median house prices rising by 1181.55 per cent, according to
the REINSW President Leanne Pilkington.
current NSW Transfer Duty brackets were put into place in 1986 the median
dwelling price, according to statistics from CoreLogic, was $80,675* compared to the current
median house price of $1,033,892.
Leanne said: “The
government’s unwillingness to act on this is outrageous. The
numbers speak for themselves. Median unit prices have also seen a similar
increase with a rise of 841.80 per cent from $80,331 to $756,557.
“Consumers should be angry about this huge injustice and the government needs to start listening. A full review must be undertaken and it must be undertaken now.”