If Vendor Duty abolished............?

[beachside]

What are peoples thoughts on the consequences of abolishing the Vendor Duty?

Will it have a noticable affect on the number of properties coming onto the market as those people finally sell who have been holding back? Possibly become a buyers market (or more so) due to quantity of stock for sale.

Will it create a demand for properties from investors as there will be less reason to buy interstate, therefore have an upwards influence on prices? (Although returns will still play a factor)

Or will one counteract the other to a degree?

Your thoughts?

[chook]

I can only speak for myself so if it was abolished I would consider looking at NSW again for my next investment property. At the moment, the combined effects of land tax and exit tax have put NSW out of the question. I would like to buy in NSW because this is the State that I know best but with land tax and exit tax it is not on.

[ralph wiggum]

Ditto with Chook