Australian Property News
NSW increases property-related fees
Posted on Thursday, July 02 2009 at 1:55 PM
Increases to a range of property charges and land title-related transactions in New South Wales came into effect yesterday, the State Opposition says.
The Shadow Minister for Housing Strategy, Greg Pearce, says despite promises to do otherwise, the State Government has "slugged" NSW homebuyers.
"From July 1, 2009 some 15 fees and charges issued by the Department of Lands and the Land Titles Office will be increased," he says.
"This comes on top of the doubling of land transfer fees in last November's mini-budget."
Pearce says the State Government, with Nathan Rees at the helm, has pinned its hopes for an improvement in the NSW economy on the housing market and promised there would be no new tax increases in this month's budget.
He says housing construction in NSW has fallen to record lows.
Recent Australian Bureau of Statistics figures show dwelling starts in the state fell 7.2 per cent seasonally adjusted in the March quarter, with only the Northern Territory and Tasmania recording worse figures.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Recent articles:
Regional areas prove positive for investment
Undersupply will drive price growth in NSW
Investor activity to keep picking up
WA prices close to previous peak
Affordability will worsen as supply falls short
Investors find fresh leverage to negotiate lower rates
