By Robert Carry
The New South Wales Government's stamp duty concession, introduced in July as part of an effort to boost the region's struggling new housing sector, has failed to attract investors in significant numbers.
According to The Sydney Morning Herald, just 808 investors have taken advantage of The Housing Construction Acceleration Plan initiative - an average of 57 per week since its launch date. The concession was given a budget of $64m but so far just $6.2m worth of stamp duty savings have been passed on.
The slack response to the plan is in marked contrast to the first time home buyers grant which saw some 1500 successful recipients per week.