Stamp duty needs reform, not relief

As housing affordability challenges persist, in recent days we have seen politicians – both the Australian Labor Party and the Liberal Party of Australia – touting stamp duty relief as a solution to our problems.

While the stamp duty exemption for first home buyers is a welcome measure, it does not address the underlying issue. Housing costs continue to rise, driven by factors such as increased demand, the cost and availability of labor and materials, more prescriptive – although not always improved – design and environmental standards, land availability, processes planning and interest rates, just to name a few. .