REINSE wants stamp duty reform after Gong named third most expensive city

“We urge Premier Berejiklian to recognise that stamp duty has not been reviewed for 30 years,” REINSW President John Cunningham said.

Mr Cunningham is also calling for first homebuyer incentives for existing properties be reinstated, stamp duty reduced and a installment scheme to pay off stamp duty.

“We are not asking government to reduce its revenue, to the contrary we believe, based on the experiences in other states, that a reduction in the stamp duty rate will generate additional market activity,” Mr Cunningam said.

It comes after Shadow Minister for the Illawarra Ryan Park, Wollongong MP Paul Scully and Greens senator Lee Rhiannon all called for change after the city was named the nation’s third most expensive behind Melbourne and Sydney.