What would stamp duty reforms do to the NSW property market?

This week, the NSW government handed down a budget with proposed reform to the current transfer duty and land tax system.  Following the broad consensus of academics, economists and think tanks, treasurer NSW Treasurer Dominic Perrottet announced consultation will be sought on a proposed model for changes to stamp duty, and replacement with the option for an annual property tax. 

The proposal in its current form, suggests people looking to purchase a home would have the option of paying an…