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.
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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.
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
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A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
Motorcycle maker says Jochen Zeitz plans to retire after five years in the role.
Architect Mark Rios and his husband, Dr. Guy Ringler, spent 18 months renovating the house, which was originally designed by John Elgin Woolf.
