House prices are expected to peak later this year as more sellers are encouraged to list their homes and buyers are priced out of the market, limiting house price growth, the NSW government’s economic outlook has revealed.
The news came as the NSW government posted a stronger financial position in this year’s budget thanks to the booming real estate market, which raised more than $9 billion in stamp duty revenue. This equated to more than a third of the state’s tax revenue in 2021-22.
READ MORE: https://www.domain.com.au/news/nsw-budget-2021-property-prices-expected-to-peak-late-2021-1066196/