Is anyone else looking forward to the end of the stamp duty concession for first home buyers?
I have been looking for my next IP over the past couple of months in my area in Western Sydney. I have noticed the average 3,1,1 house is advertised for about $40K more than they were a couple of months ago. I am sure that a lot of the price increase is due to the stamp duty concession for first home buyers.
Poor old FHB's are paying about $40K more for the privilege of saving circa $12K in stamp duty. I have decided to put my IP shopping on hold until the new year when the concession is finished. It will be interesting to see if less buying competition in the new year will result in house prices reverting back to the mean.
At least it is a good time to revalue and generate some more equity ready to be put to good use down the track.
I have been looking for my next IP over the past couple of months in my area in Western Sydney. I have noticed the average 3,1,1 house is advertised for about $40K more than they were a couple of months ago. I am sure that a lot of the price increase is due to the stamp duty concession for first home buyers.
Poor old FHB's are paying about $40K more for the privilege of saving circa $12K in stamp duty. I have decided to put my IP shopping on hold until the new year when the concession is finished. It will be interesting to see if less buying competition in the new year will result in house prices reverting back to the mean.
At least it is a good time to revalue and generate some more equity ready to be put to good use down the track.