Fed: Home buyers crippled by stamp duty

AAP General News (Australia)
12-01-2008
Fed: Home buyers crippled by stamp duty

A new report says Australian first home buyers are having difficulty entering the housing
market .. because of growing stamp duty bills.

The inaugural bankwest Residential Stamp Duty Report has found stamp duty on the typical
home has soared 59 per cent in the past five years .. almost double the rise in household
income in the same period.

The report says state and territory governments have pocketed almost 53 billion dollars
in stamp duty receipts for both residential and commercial properties in the same time
.. while annual stamp duty revenues have increased 77 per cent.

AAP RTV kb/gfr/tm/psm/

KEYWORD: STAMP (MELBOURNE)

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