PHOTO: Michael and Liz Short, with daughters Isla and Zoe recently bought a home but were not happy with their stamp duty charges. Picture: AAP/Jordan Shields Source: News Corp Australia
Home buyers in 70 NSW suburbs were forced to cough up an average of more than $100,000 in stamp duty last year.
The charges were for home purchases spread across Sydney, including in suburbs in the inner west, north shore, Central Coast and Western Sydney.
The payments boosted state government stamp duty revenue to a total $8.4 billion for the 2018 financial year, according to sales analysis by the Real Estate Institute of NSW.
Buyers in Tamarama had the highest average stamp duty bills at about $362,000 — enough to buy an apartment outright in Wollongong — but even buyers in cheap suburbs faced stiff charges.
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