ACT Opposition leader Zed Seselja has called on the the ACT Government to follow the lead of Queensland Labor by scrapping stamp duty for first home buyers on houses under $500,000 (as reported on the ABC website).
Zed says he will run with this policy at the upcoming election.
So, can Pottsy please tell us how this could affect the local real estate market? Surely it will force houses around the $450K mark up closer to half a million and the houses around the $500K mark will drop. But, I’m no expert.
As for the lost cash cow, I mean, revenue, predictably, both leaders are at odds over how to deal with missing $120M to the ACT Gov coffers if Zed’s plan gets up.