Manor Castle Hill

MARKET UPDATE WHAT WILL HAPPEN TO THE PROPERTY MARKET IN 2021? 2020 has been a year like no other, with uncertainty the key defining factor. However, despite a few dips, this has not been a bad year for the property market in Castle Hill. 2021 will start with optimism, with the first auctions scheduled for late January and some noticeable pent-up demand from buyers, we expect 2021 will begin with some solid sales. We also expect to see a short but sharp Autumn selling period. After all, Easter usually causes a pause in the property market and, in 2021, it will fall on the first weekend in April. WHAT ABOUT THE PROPOSED CHANGES TO STAMP DUTY THIS YEAR? The biggest property news for 2021 could be the NSW government’s proposed changes to stamp duty. In November 2020, the government announced a proposal to swap upfront stamp duty for an ongoing, but smaller, property tax. This plan is in the consultation stage and full details will be released in mid-2021.