New laws help home buyers decide if the price is right

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Looking for your ideal home can be an exciting process. But rising house prices and fierce competition in the property market can also make it frustrating and overwhelming.

New underquoting laws aim to keep agents honest and give buyers a fair go in an open and transparent property market.

Agents must give prospective buyers a Statement of Information that includes:

  • the indicative selling price
  • three comparable property sales, and
  • the median house or unit price for the suburb.

Always check the Statement of Information before inspecting a property – it will help you work out the likely selling price and decide if you are spending valuable time and effort on a property you can afford.

Download the example Statement of Information (PDF, 122KB).

For more information, visit our Understanding property prices page.