The decision to axe stamp duty concessions in Tasmania could lead to more Australian property investors in the state increasing their rents, an expert has suggested.
Damien Taplin of TPC Valuers, told API Magazine that first homebuyers will be forced to stay in rented property for longer, which will place further upward pressure on rental prices.
"The banks were already saying 'we have enough loans and risk with the first homebuyer bracket' and so that bracket of properties was already becoming flat," said Mr Taplin.
He went on to say that the abolition of stamp duty concessions is one more reason for first homebuyers in the state to stay put rather than get a foot on the Australian property ladder.
Mr Taplin told the news provider that tenants should expect a significant rise in rent rates at their next lease renewal.
Earlier this month, Michael Matusik, of Matusik Property Insights, wrote in his blog that Queensland's government should cut stamp duties for off-the-plan transactions.
Posted by Steve Douglas
Damien Taplin of TPC Valuers, told API Magazine that first homebuyers will be forced to stay in rented property for longer, which will place further upward pressure on rental prices.
"The banks were already saying 'we have enough loans and risk with the first homebuyer bracket' and so that bracket of properties was already becoming flat," said Mr Taplin.
He went on to say that the abolition of stamp duty concessions is one more reason for first homebuyers in the state to stay put rather than get a foot on the Australian property ladder.
Mr Taplin told the news provider that tenants should expect a significant rise in rent rates at their next lease renewal.
Earlier this month, Michael Matusik, of Matusik Property Insights, wrote in his blog that Queensland's government should cut stamp duties for off-the-plan transactions.
Posted by Steve Douglas
