Daily Bulletin

Men's Weekly

.



The decision by Minister for Innovation and Better Regulation Victor Dominello to consult with the public on the use of sunset clauses in off the plan property contracts will act to benefit consumers, according to the Real Estate Institute of New South Wales.

In a statement released last week Mr Dominello said the NSW Government was considering reforms to the Conveyancing Act 1919 to
allow only the purchaser to rescind off the plan contracts; and requiring a vendor who terminates a contract under a sunset clause, and resells the same unit, to pay damages to the purchaser equal to the difference on the sale price between the two contracts.

REINSW President Malcolm Gunning said a public consultation was essential to understand the issues consumers face.

“The current legislation is allowing developers to take advantage of a fast moving property market that has exceeded expectations in recent times,” Mr Gunning said.

“The issues facing consumers need to be fully explored and the legislation amended to ensure they are protected financially and emotionally. Purchasing a property is a huge commitment and sunset clauses in their current form can see consumers exploited.

“We applaud the government for their proactive response to this issue,” Mr Gunning said.  

Business News

Wang Chuanfu Attends BYD Harmony’s 100th Overseas Store Opening

Dignitaries inaugurate the new store On July 12, 2025, Melbourne, the vibrant pearl of the southern hemisphere, Chairman and President of BYD Co., Ltd. Mr. Wang Chuanfu inaugurated and awarded the ...

Daily Bulletin - avatar Daily Bulletin

Strategic Global Expansion Moves to Overcome the Growth Challenges

Photo by Gabrielle Henderson on Unsplash Australia's startup ecosystem is having a moment in the sun. Out of 1,257 unicorns globally, eight hail from Australia. Yet, trade and economic policy uncerta...

Daily Bulletin - avatar Daily Bulletin

What Is a Restaurant Point of Sale System and Why Every Eatery Needs One

The commercial dining industry is incredibly fast-paced and constantly needs upgrades to attract the target audience. Every entrepreneur in this sector, without exception, faces numerous challenges...

Daily Bulletin - avatar Daily Bulletin

LayBy Deals