Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 29 November 2016

Stamped out

New South Wales stamp duty receipts eased back to $8.5 billion over the year to October.

Despite higher prices, the number of transactions had begin to dip from the prior year as the months ticked on. 

Still, it's a wild and unprecedented windfall that can be used for infrastructure projects galore. 

The annual total of $8.5 billion is more than double anything we've ever seen until as recently as the middle of calendar year 2013. 

The New South Wales state government now has less than zero net debt for the first time ever.

The state budget racked up a surplus of $4.7 billion in 2015/16 on the back of the housing boom.