Off the plan contracts review: consultation extended to 3 February 2023
Publish date:
The NSW Government is seeking feedback about current issues affecting buyers of property off the plan and the effectiveness of the current off the plan disclosure regime.
Please see the discussion paper linked below which sets out options to bolster existing consumer protections and to address emerging issues in this sector, including:
- introducing minimum readiness requirements before residential land can be sold off the plan
- enhancing disclosure requirements for off the plan contracts
- imposing penalties for developers who offer to sell residential land off the plan without appropriate disclosure
- expanding existing sunset clause protections to include other conditional events, like the need for development approval by a certain date
- solutions to address the increasing size of off the plan contracts.
Have your say by 5 pm on Friday, 3 February 2023.
Please email your submission to [email protected].