Stamp duty rises on regional moves

Throughout the pandemic the shift to outer suburban, regional and coastal areas around the country has been a key trend among buyers, says John Healy from realestate.com.au.

The move has meant prices in many of those “lifestyle areas” have surged, but so too have stamp duty costs for buyers looking to make a move.

“Those looking to make that COVID-led lifestyle shift, or a sea or tree change, will do so now with a stamp duty burden attached to it as a combination really of median property prices and stamp duty bracket creep,” he said.

Mr Healy said the suburbs of Kembla Grange in New South Wales and Warana in Queensland both saw stamp duty grow over 100 per cent.

Kembla Grange had a jump of 173 per cent since last year and Warana stamp duty has increased 109 per cent.

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