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Western suburbs property to pull NSW out of the red

By Staff Reporter
23 September 2009 | 1 minute read

Liverpool and Blacktown in Sydney’s Western suburbs are leading the charge in home sales and helping to drag NSW out of the economic doldrums.

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According to a report in the Daily Telegraph, Liverpool and Blacktown recorded the highest number of sales over July and August (767) - worth more than $262 million.

The state government is hoping the increased number of sales and spike in stamp duty revenue will rescue it from its $1.3 billion deficit.

Over the last two months, there has been a $24 million increase in stamp duty, up from $494.4 million for the same time last year to $518.5 million.

And with upgraders and investors geared up for re-entry into the market, the NSW government is forecasting an extra $150 million in stamp duty over the coming year, the daily reported.

Western suburbs property to pull NSW out of the red
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