Foreign investors in Australian residential property are paying multiple times the amount in stamp duty paid by local owners and investors, according to a report which also suggests that Australians are paying more than $20,000 in stamp duty on average homes and investment properties which they buy.

Released by Housing Industry Association, the latest report suggests that foreign purchasers of a median priced unit or apartment in Sydney as of July ($747k) were required to fork out $93,865 in stamp duty and other transaction taxes.  This equates to more than three times the $29,105 which local owners/investors…