Stamp duty has become the antiquated blight of the Australian housing sector as prices soar and governments continue to penalise home buyers with higher taxes which is leading to a reduced number of properties on the market. Real Estate Institute of Australia (REIA) and SQM Research have today released a market analysis.
Stamp duty: The relationship to Australian housing affordability and supply which shows that listings have plummeted across the country as housing prices and taxes on sales skyrocket.
According to the report, total national property listings have been steadily falling over the past year to currently sit at just over 200,000 properties – a record low on SQM’s numbers. By way of comparison, between 2011 and 2019, a period that recorded two upturns and one down turn, national available listings ranged between 380,000 to 300,000 dwellings.