❓ Hon Peter Collier asks about the forecast number of properties and median house price that will attract the foreign buyers surcharge following the rate increase announced in the 2018-19 budget. The Treasurer's representative provides an estimate for the number of properties but states median price data is unavailable, providing an average price instead.
AnsweredQoN 401Legislative Council
QuestionView source ↗
FOREIGN BUYERS SURCHARGE
RATE — 2018–19 STATE BUDGET
401. Hon PETER COLLIER to
the minister representing the Treasurer:
I refer to the foreign buyers
surcharge rate increase announced in the 2018–19 budget.
(1) What is the forecast number of properties that will
attract the foreign buyers surcharge for the years 2018–19, 2019–20,
2020–21 and 2021–22?
(2) What is the forecast median house price that will
attract the foreign buyers surcharge for the years 2018–19, 2019–20,
2020–21 and 2021–22?
RATE — 2018–19 STATE BUDGET
401. Hon PETER COLLIER to
the minister representing the Treasurer:
I refer to the foreign buyers
surcharge rate increase announced in the 2018–19 budget.
(1) What is the forecast number of properties that will
attract the foreign buyers surcharge for the years 2018–19, 2019–20,
2020–21 and 2021–22?
(2) What is the forecast median house price that will
attract the foreign buyers surcharge for the years 2018–19, 2019–20,
2020–21 and 2021–22?
AnswerView source ↗
I thank the Leader of the Opposition
for some notice of the question.
(1) Based on
Foreign Investment Review Board data, the Department of Treasury estimates that
around 1 000 properties a year will attract the foreign buyers surcharge. This
represents less than two per cent of residential property transactions in Western
Australia.
(2) Median property
price data is not available. However, the estimated revenue from the foreign
buyers surcharge, combined with the estimated number of property transactions
expected to attract the surcharge each year, implies an average property of
around $500 000.
for some notice of the question.
(1) Based on
Foreign Investment Review Board data, the Department of Treasury estimates that
around 1 000 properties a year will attract the foreign buyers surcharge. This
represents less than two per cent of residential property transactions in Western
Australia.
(2) Median property
price data is not available. However, the estimated revenue from the foreign
buyers surcharge, combined with the estimated number of property transactions
expected to attract the surcharge each year, implies an average property of
around $500 000.
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