Record February Stamp Duty Gains For NSW
Kanebridge News
Share Button

Record February Stamp Duty Gains For NSW

The 2020/2021 financial year is set to be the biggest on record for stamp duty revenue in NSW.

By Terry Christodoulou
Wed, Mar 24, 2021Grey Clock < 1 min

The well-documented boom in property prices has driven stamp duty revenue for the NSW government to unprecedented levels ahead of a property tax reform.

February stamp duty revenue for NSW reached a record $816 million, according to state government figures, smashing the previous high of $626 million 2017.

Auction data over the past few weeks has seen the median house price sold at auction reach record highs, with sales volumes increasing steadily.

February 2021 saw 16,941 property transactions in NSW, with average stamp duty paid just over $48,000.

The 2020/2021 financial year is set to deliver the highest annual stamp duty return for the NSW government since the 2016/2017 financial year, which accrued $9.6 billion.

In the eight months to the end of February, NSW had paid $5.6 billion in stamp duty across commercial and residential property.

 

MOST POPULAR

Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories

The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au