On Friday, Victorian Treasurer Tim Pallas announced surcharges introduced last year on stamp duty and land tax payable by foreign buyers of residential property would be increased.

Mr Pallas said his budget this week would increase the stamp duty surcharge from 3 per cent to 7 per cent and a land tax surcharge for "absentee owners" would rise from 0.5 per cent to 1.5 per cent.

He said the introduction of the surcharges in 2015 had "no adverse" effect on the property market and foreign investment had continued to grow.

Asked on Sunday to rule out introducing similar surcharges in NSW in her second budget on June 21, Ms Berejiklian declined to comment.

In her first budget, Ms Berejiklian unveiled a string of surpluses to 2019, underpinned by surging stamp duty receipts from the buoyant Sydney property market.

However, she was criticised for not doing more to address housing affordability.

In the half-yearly update in December, Ms Berejiklian unveiled a projected $3.4 billion surplus for 2015-16 but warned there were signs the NSW property market was cooling and growth from residential stamp duty "is moderating".

In his inaugural speech last year, the Liberal MP for Epping, Damien Tudehope, suggested a stamp duty surcharge for non-permanent residents could improve housing affordability.

Mr Tudehope said a flat rate of 20 per cent, along with higher land tax for foreign investors, could benefit local buyers, many of whom were "not playing on a level playing field".

However, NSW property industry lobby groups strongly oppose the surcharge.

After Victoria's announcement last year, Real Estate Institute of NSW president Malcolm Gunning urged NSW not to follow suit as "foreign investors would simply decide to invest somewhere else".