Stamp duty costs to blame for drop in new home sales: HIA


first_imgThe HIA says new home sales fell 5.7 per cent in 2017. Image: AAP/David Mariuz.The HIA’s latest monthly survey of the country’s biggest home builders has found the largest fall in new house sales in 2017 occurred in New South Wales (-14.5 per cent), followed closely by Queensland (-14.1 per cent).Victoria was the only state to experience in increase in the sale of new houses (+5.8 per cent).More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoHIA senior economist Shane Garrett renewed calls for stamp duty reforms as he said the tax was compounding the housing affordability crisis, particularly in Sydney and Melbourne. HOTTEST RENT SPOTS REVEALED The HIA has reported a drop in new home sales in 2017. Photographer: Liam Kidston.AUSTRALIA’S peak building industry body has slammed stamp duty costs for a drop in new home sales in 2017.The Housing Industry Association says the burden of housing taxes such as stamp duty squeezed homebuyers last year, contributing to a 5.7 per cent fall in the sales of detached houses. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE HIA senior economist Shane Garrett.“The burden of housing taxes, particularly stamp duty, grew much heavier during 2017 — homebuyers are really being squeezed.“Residential building activity contributes at least $103 billion annually to the economy. Construction employs over 1 million Australians. The persistent rise in the tax burden places this at risk. FOR SALE: AUSTRALIA’S BEST BACKYARD WATERSLIDE “The relentless increase in stamp duty is largely to blame. In Victoria, the typical stamp duty charge has surpassed $31,000 while homebuyers in NSW are faced with bills in excess of $25,000. “Stamp duty bills have been sky rocketing for decades — in some cases by over 4,000 per cent since the early 1980s.”The amount of stamp duty paid by homebuyers across Australia almost doubled in the past four years to $20.6 billion, according to a recent HIA report.center_img The HIA is blaming stamp duty costs for a drop in new home sales. Image: AAP/Brendan Esposito.last_img read more

The Latest: Russian soccer league to resume on June 21


first_imgTwo teams are barred from playing until May 27 by the state of Saxony-Anhalt and can train only in small groups.___World Rugby has postponed July test matches involving southern and northern hemisphere nations because of ongoing restrictions on international travel during the coronavirus pandemic.The sport’s international governing body issued a statement Friday saying the mid-year test window will be rescheduled when cross-border travel and quarantine regulations are relaxed.New Zealand had been scheduled to play Wales and Scotland, Australia was set to play Ireland and Fiji and South Africa had planned to host Scotland and Georgia. World Rugby said the postponement is due “to ongoing government and health agency COVID-19 directives.” May 15, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Russian soccer league will restart on June 21 after a break of more than three months because of the coronavirus pandemic. Associated Press The German soccer federation has delayed the restart of the men’s third-division because it doesn’t have political approval.The third division was scheduled to resume on May 26 amid the coronavirus pandemic but the federation says that can’t happen without the go-ahead from authorities around the country. Games in the first and second divisions will resume Saturday.The third division still has 11 rounds of games to play.The pandemic has put several third-division clubs under strain.Leader MSV Duisburg has financial problems and second-place Waldhof Mannheim told local newspapers on Thursday that it stopped training because it doesn’t have coronavirus tests. More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 The Latest: Russian soccer league to resume on June 21 ___Aussie rules football will kick off again on June 11, with the second round of the Australian Football League to be played almost three months after the competition was suspended because of the coronavirus pandemic.Australian Football League chief executive Gillon McLachlan on Friday announced the matches for the next four rounds of the condensed season would be released within 10 days. The AFL, Australia’s most-watched sports league in terms of attendance and TV audience, was suspended on March 22 after one round.Quarantine requirements and travel restrictions from some states means players and staff from the four AFL clubs from Western Australia and South Australia — the West Coast Eagles, Fremantle Dockers, Adelaide Crows and Port Adelaide — will be temporarily be relocated to hubs on the Gold Coast, an hour south of Brisbane. ___ The league intends to pack eight rounds of games into just over one month to finish on July 22. League president Sergei Pryadkin says all games will be held in empty stadiums.The Russian Cup will also continue with the final on July 25. That means some clubs face up to 11 games to finish the season.A planned promotion-relegation playoff has been dropped with only the bottom two clubs in the top division relegated automatically as usual.The league has also adopted a rule change allowing up to five substitutions per match.___last_img read more

Bits n Pieces Have Colt revolver — will travel … to Vegas


first_imgMitch Powers didn’t really expect much when he answered a posting on Craigslist looking for people with interesting historical items.The 51-year-old Vancouver chiropractor was just looking for a venue to sell the 1889 Colt revolver that was owned by his father, Dale Powers, who passed away about five years ago.“He was a big collector of anything Old West,” Powers said. “I’m not a big gun guy, but apparently any old Colt gun is worth a lot of money, and my mother needs it for her retirement.”About two weeks after responding to the posting, Powers got a call from the producers of the History Channel TV show “Pawn Stars.” They asked him if he could bring the gun to Las Vegas and appear on the show.“It was just on a whim, and I don’t really know how it all works, but I’m going to go down there,” Powers said.The episode will be filmed on May 21. Powers said he’s uncertain when it will air.Powers tried to auction the gun earlier in Oregon, and a bidder offered $47,000, but it was set up with a minimum bid of $50,000, so it didn’t sell.last_img read more