Stamp Duty & Land Tax Deter Vital Rental Property Investment / News / Northern Rivers Business Magazine: North Coast NSW

Stamp Duty & Land Tax Deter Vital Rental Property Investment

The Real Estate Institute of New South Wales says stamp duty and land tax are preventing vital investment in rental properties in the Northern Rivers.

The availability of rental homes has fallen to one of the lowest rates in the state.

The institute’s Tim McKibbin says the small increases in availability recorded elsewhere in the state will not make a dent in a worsening rental crisis.

Mr McKibbin says the North Coast’s rental availability is not likely to improve until there is government intervention.

“The market forces are still very active and as a consequence of that I do not think we are going to be seeing any improvement in supply in the foreseeable future,” he said.

“Stamp duty and land tax are two deterrents for investment in this particular area and these two issues need to be rectified immediately.”

22 July 08

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