Brett Wortman

Stamp duty 'out of control': property council

NEW figures reveal average stamp duty costs have surged 800% over the past two decades.

Property Council of Australia chief executive Ken Morrison said stamp duty was out of control and was one of the biggest impediments to entering the housing market.

He said stamp duty was an inefficient tax and must be abolished.

"Stamp duty has become a run away cash grab that is hurting Australia's economy and locking out potential homebuyers," he said.

"These astounding increases in the costs of stamp duty are nothing short of scandalous.

"The community should be outraged that they are being slugged with such excessive charges, especially at a time when housing affordability is an acute challenge." 

 

The true cost of stamp duty over the life of an average mortgage:

Sydney, $61,542

Brisbane, $14,733

Melbourne, $56,616

Hobart, $21,564

Perth, $33,654

Canberra, $35,427

Adelaide, $30,393

Darwin, $49,701



FOR SALE: Home boasts ocean views and ten cartons of beer

FOR SALE: Home boasts ocean views and ten cartons of beer

Ever thought about off-grid living at Captain Creek?

Boyne Valley Rail Trail could attract 30,000 tourists a year

Boyne Valley Rail Trail could attract 30,000 tourists a year

Local communities waiting for work to start

At Bedrock restorations Barney can 'yabba dabba' do it

At Bedrock restorations Barney can 'yabba dabba' do it

Turning rusted wrecks into collectables

Local Partners