Stamp Duty - December 07 budget changes?

[Sydney100]

Same old story, stamp duty so not fair! Just put an offer on a house and the stamp duty is 63K, I'm a second time buyer but my partner isn't so we're liable for the whole lot. I just think its so unfair that hes losing out because of me. My mortgage broker thinks the governement will have to do more on stamp duty to get the market moving again and reckons in the budget in December we might be lucky and have the stamp duty reduced. Anyone else think the same.

We're not due to close sale until January so if it is reduced I think we might benefit.

 

[Dave Vanian]

If you've already signed contracts you may not benefit from any possible Stamp Duty changes.

If the previous Stamp Duty changes haven't done much for the market, why would the Government do more? Most commentators would agree that the primary causes of the property market slowdown are the effect of recent interest rate hikes and uncertainty about future ones. Consumer caution about the state of the economy probably plays a part.

Meddling with Stamp Duty won't change any of these issues. I wouldn't hold your breath.