[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”no” min_height=”” hover_type=”none” link=””][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]Heard about the new changes to Stamp Duty and thought they were a great idea? Unfortunately, not many are considering the effects on house prices. If you’ve missed the update – The Government has announced a housing affordability package that will remove stamp duty for first-home buyers for properties up to $600,000, and offer stamp duty concessions for properties worth between $600,000 and $750,000.
My concerns are pretty simple. Putting the stamp duty savings in buyers’ pockets will mean they will bid more on auction day, pushing house prices even higher. I predict that prices will rise by about 2 to 3 per cent as a result. Meaning a $600,000 property with a 3 per cent rise would add $18,000.
Will that push those still saving for a deposit out of the market? Find out here.[/fusion_text][fusion_text] [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]