NSW Property Boom Drives Record Stamp Duty Haul
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NSW Property Boom Drives Record Stamp Duty Haul

Although some economists fear the effect of COVID on incoming figures.

By Terry Christodoulou
Thu, Jul 29, 2021Grey Clock < 1 min

As property prices and transaction volumes continue to rise, the NSW government has collected a record $9.7 billion in stamp duty in the last financial year.

A recent record $930 million in stamp duty was collected in June alone – when 21,000 properties changed hands.

However, some economists warn that Sydney’s extended lockdown could diminish one of the state’s most lucrative revenue sources which saw residents pay $7.9 million in stamp duty on the sale of residential properties in the financial year ending June 20, 2021.

Further, NSW collected $1.8 billion in revenue on the sale of commercial properties this year.

It comes as property prices and transaction volumes rise, with Sydney homes surging 15% in the year to June according to data from CoreLogic. National prices rose at the highest annual growth rate in 17 years.

A rise in transaction volumes saw Sydney’s residential auction volumes surge 81% in June quarter, while Melbourne’s tally was boosted to 51% as sellers rushed to take advantage of the buyer’s market.

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By Robyn Willis
Fri, Aug 5, 2022 2 min

When people talk about making a seachange, chances are this is the kind of property on the NSW South Coast that they have in mind.

Open for inspection for the first time this Saturday, 24 Point Street Bulli offers rare absolute beachfront, with never-to-be-built-out north facing views of the ocean. Located on the tip of Sandon Point, this two-storey property is a surfer’s dream with one of Australia’s most iconic surf breaks just beyond the back wall.

On the lower floor at street level, there are three bedrooms and two bathrooms, including a family bathroom and an ensuite in the master suite. A fourth bedroom is on the upper floor, along with the main living area, and is serviced by its own bathroom. 

While this would make a spectacular holiday home, it is well equipped for day-to-day living, with a spacious gourmet kitchen and butler’s pantry set into the articulated open plan living area on the first floor. A separate media room to the street side of the property on this level provides additional living space. 

Every aspect of this property has been considered to take in the light and views, with high ceilings internally and spacious, north facing decks on both levels to take in views of rolling waves. If the pull of the ocean is irresistible, it’s just a 100m walk to feel the sand between your toes.

The house is complemented by a Mediterranean, coastal-style garden, while the garage has room for a workshop and two car spaces.

An easy walk to Bulli village, the property is a 20 minute drive from the major hub of Wollongong and just over an hour to Sydney.

 

Open: Saturday August 6 2pm-3pm Auction: Saturday September 3 Price guide: N/A but expected to exceed $5.3m paid in March for 1 Alroy Street 

Contact: McGrath Thirroul – Vanessa Denison-Pender, 0488 443 174