SYDNEY home buyers are paying the highest stamp duty bills in the nation – more than three times as much as the average for those in Brisbane.

The typical Sydney home buyer needs to work for three months just to pay the stamp duty on a median-priced property, and in some suburbs it can take more than half their annual income, according to a study to be published today. The BankWest residential stamp duty report shows the median stamp duty bill in Sydney is $19,385, the highest of all eight capital cities. Brisbane has the lowest, at $5688.

Queensland’s stamp duty starts at 1 per cent for properties worth up to $350,000 and rises to 5.25 per cent for those worth more than $980,000.

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