Tuesday, 4 March 2025

Ministers statements: housing

Nick STAIKOS (Bentleigh – Minister for Consumer Affairs, Minister for Local Government) (14:25): I rise today to update the house on the work of the Allan Labor government in cracking down on the dodgy practice of underquoting. For many young families and first home buyers, every dollar counts. They spend weeks and sometimes months searching, paying for building inspections and budgeting carefully only to find out that their dream home was never in their right price range to begin with. This is not just frustrating, it is deeply unfair, and that is why the work of the underquoting taskforce is so important. The taskforce is attending auctions regularly and sending a strong and clear message to real estate agencies doing the wrong thing that there will be tough penalties.

The trial of our government’s underquoting taskforce has been so successful that it is now a permanent enforcement arm of Consumer Affairs Victoria, and since it was established it has monitored over 2200 sales campaigns and issued infringement notices that have totalled over $1.8 million to real estate agencies caught breaching their obligations. But it is not just about issuing fines, it is about making the market fairer. The Allan Labor government is committed to supporting those who are looking to get into the housing market for the first time, and we have a strong record of doing just that. The taskforce is just one piece of the puzzle. Whether it is our 130 nation-leading rental reforms to protect tenants from unfair treatment, our enhanced consumer protections or indeed our underquoting taskforce, we will not stand by while dodgy practices hurt Victorians. We will always fight for fairness, transparency and a housing market that works for everyone.