Victoria, the state with the highest stamp duty and an economy tied more to population growth and housing than others, is likely to report a fall in property revenue at its state budget on Tuesday, showing its dependence on the volatile real estate market, economist Saul Eslake says.” budget, will hand down a fiscal statement that will reflect the residential and commercial property downturns harder than other states, according to Mr Eslake.
“Our property probably had a 4 in front of it 12-18 months ago. Now it’s got a 3 in front of it,” he said. Was 4, now 3? Hotelier Julian Gerner’s Canterbury Street home in the Mornington Peninsula’s Sorrento is up for sale with a $3-$3.3 million guide.
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