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New South Wales posted a total of $8.382 billion in property tax revenue in 2017-2018— a still-high result despite the cooling market.
The Labor Party’s plan to restrict negative gearing on newly built properties could lure in spruikers to the market, according to Property Investment Professionals of Australia (PIPA).
Western Australia’s property market is showing a positive outlook as six of the state’s regional centres record an increase in median house sale price during the March quarter.