Today we look at some of the recent research from a flurry of surveys across the property market. Combined, they paint a concerning picture. And we also look at the stamp duty question, later in the show, so stay around for that!
Some 26% of Australians see mortgage repayments as a significant cost-of-living concern – that means 5.05 million people may be worried about keeping up with mortgage repayments in the coming months.
NSW Property Services Commissioner John Minns told a panel discussion on Tuesday he would like to see the land tax change expanded to include the whole property market and not just first home buyers.
But just remember such a move would primary benefit property investors who could offset the annual tax cost against the income from the property, whereas owner occupiers cannot, so in fact this could have a two fold distorting effect. First lifting the price of property by the stamp duty saving, and second orientating the benefits towards investors. In short this “reform” is not what it seems to be.
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Caveat Emptor! Note: this is NOT financial or property advice!!