The Canberra Times has a piece on the fallout of yesterday’s NSW Budget (note how NSW cleverly wait until after they’ve seen the Federales).
The big thing for us is that in NSW houses under $600,000 will be exempt from stamp duty. This in turn will allow developments in the surrounding Canberra region to be priced more competitively, taking demand out of the ACT market and putting more pressure on the Federal Highway and Canberra Avenue.
Mr Stanhope ruled out matching the proposal, claiming significant measures already existed to provide affordable housing.
He described the NSW measure as a stamp duty holiday, with greater need across the border to address a more apparent housing shortage.
It was a holiday he said the ACT could not afford.
I’m not sure we can afford to be so uncompetitive either.