NSW residents have paid $62 billion in stamp

NSW residents have paid $62 billion in stamp

NSW residents have paid $62 billion in stamp duty since 2010 – how does your suburb stack up?

It’s Sydney’s most hated tax and the biggest barrier to owning your own home.
9News can for the first time reveal the full eye-watering cost of stamp duty to NSW homebuyers over the past nine years – broken down by individual postcodes.
In total, we’ve collectively been slugged with almost $62 billion ($61,785,899,232) for the privilege of buying in one the world’s most expensive property markets since the Coalition took power.
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Over the past nine years NSW homeowners have paid almost $62 billion in stamp duty collectively.
Over the past nine years NSW homeowners have paid almost $62 billion in stamp duty collectively. (Getty)
The annual takings by the NSW Government have more than doubled within the period, from just over $3.5 billion in 2011/12 to a peak of almost $9 billion in 2016/17 on the back of our housing boom.
While Sydney CBD’s predominantly commercial 2000 postcode was unsurprisingly the biggest contributor at $3.6 billion, followed by Mosman (2088) at $780 million and Crow’s Nest and St Leonards (2065) at $760 million, Kellyville in Sydney’s north-west (2155) took fourth place at $719 million – a total figure that includes an annual quadrupling in stamp duty within the past decade.
Parramatta (2150) was another hotspot in sixth place, garnering $539 million, and Liverpool and Casula (2170) close behind at eighth spot at $510 million.
State-wide, the average nine-year postcode total is $96 million.
Greg Warren, Shadow Minister for Western Sydney, says the city’s west and south-west have been unfairly gouged by ever-growing stamp duty with inadequate government return in areas such as health, schools and roads.

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