Stamped out
Median prices have been holding up reasonably well, although Melbourne house prices finally look to have cracked a little.
But auction sales recorded are waaay down.
Source: Domain
On the same weekend last year $1.7 billion sold under the hammer.
This year the equivalent figure was a paltry $653 million.
That's a heck of a lot of stamp duty not being collected in the tighter lending environment.
Just one of the reasons I don't believe there will be much appetite for it to last too long.
Lower bank profits and corporation tax receipts will be another.
Who'd be a regulator?