Consumer News

By Tim McKibbin – REINSW CEO

Housing affordability is one of the biggest issues in the Sydney property market for those purchasing a property and, in particular, those trying to enter the market.

The cost of stamp duty is just one more cost pushing home ownership beyond the reach of so many people. The comments of our new Premier Gladys Berejiklian to address housing affordability as one of her priorities is welcomed.

The Real Estate Institute of NSW has constantly campaigned for stamp duty rates to be reviewed. The current stamp duty regime is 30 years old and delivers an unjust outcome for property consumers. 

The Institute also advocates for concessions for both first homes buyers and people over 65 who are looking to down size.

Making these changes will help ease housing affordability and help to get the supply chain moving.