Victoria's decision to waive stamp duty for many first homebuyers will fast become counter-productive, stimulating an already booming residential market, property analysts said.
The state government has abolished stamp duty for first-time buyers for purchases below $600,000 even as housing markets in Melbourne and Sydney continued to fire at the weekend, with auction clearances above 80 per cent.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
