Real estate activity is rising, how is your firm keeping up? Recent adjustments to stamp duty across NSW and Victoria aim to kickstart the economy and Real Estate Agents, property lawyers and conveyancers will benefit. In Victoria, stamp duty will be slashed up to 50%, but this will only apply to newly built homes up to the value of $1 million and will be available until June 2021. Alternatively, those in Victoria buying pre-existing homes can expect to receive a 25% discount, again up to $1 million. In NSW, stamp duty reforms are still underway with final decisions being announced in March, but under the current proposal, home buyers will be able to choose if they would prefer to pay stamp duty or an ongoing annual land tax. It is hoped that these changes will bring people back into the property market, which suffered heavily during the height of COVID-19. There has also been reported growth in the number of properties coming into the market now consumer confidence has recovered. Real Estate Agents are seeing an influx of requests for settlements to take place during the Christmas and New Year period as well as for interstate service as people look to move with remote working