The recent seven percent stamp duty increase in Victoria for foreign home buyers will have a negative impact on foreign investment and foreign supply in Australia, reports the Australian (23 April 2016). Juwai Data shows Victoria to be the most popular Australian state for Chinese buyers in 2015. According to Gavin Norris, Head of Australia for, “The immediate result of this half-billion-dollar tax will be a rush of foreign buyers to close their deals before it kicks in on July 1, then we expect a slowdown in transactions in the second half of the year.”