Government anti-land speculation tax will reduce housing supply – Savills

Savills, the property agency, has warned the government’s proposed measure to clampdown on land speculation will disrupt housing supply.

Last week, the Department of Housing published details of the new Land Value Sharing measure, which was first announced as part of Housing for All in 2021. The details confirmed that the state plans to take a 30 per cent cut of the uplift in value created when land is zoned for residential use.

Originally it ...