The Government is resisting any change to this tax. Stamp Duty is now more than $100,000 for a home purchased close to the city (at $2,100,000). Why are economists then surprised that listings are low in this market? A dynamic economy needs to be flexible and fast-moving to reflect changes. High transfer costs glue up the system. They keep older people in big houses, which could be used by families, they hinder people moving to new areas where jobs become available and they restrict business to their existing premises. To enlarge a business carries enough risk, without a great whack of tax to move into that factory or office. It’s time for a Stamp Duty rethink!