Home Buyers to Benefit from PAMDA Reforms

25/10/2012

Kallangur and Pine Rivers residents will save time and money when buying or selling a property after the Newman Government announced changes to the Property Agents and Motor Dealers Act.

Member for Kallangur, Mr Trevor Ruthenberg, said the Act would be split to reduce the amount of paperwork to be completed when buying items such as a house, motor vehicle or livestock.

"When this decision was made, the Government was mindful of protecting the rights of the consumer, while also making life easier for vendors by reducing red tape," Mr Ruthenberg said.

"The split fulfils one of our election commitments, incorporating the PAMDA warning statement into the contract, removing unnecessary duplication from the buying process."

"This will also give each industry specific legislation and regulation."

The move has been strongly backed by industry groups, including the Real Estate Institute of Queensland and Motor Trades Association of Queensland.

Mr Seath Holswich welcomed Attorney-General Jarrod Bleijie's announcement and said it was a big win for local consumers and agents.

"Local agents have voiced concerns that the process of buying and selling a house confused consumers, which is why it will now be simplified," Mr Holswich said.

"Prior to the election, the Government promised to slash red tape created by the former Labor Government and PAMDA was high on the hit list."

"We have already scrapped the sustainability declaration, re-introduced the principal place of residence stamp duty concession and reduced the payroll tax burden for Queensland businesses."

"The Government is committed to targeting unnecessary regulation and sending a clear message that Queensland is open for business."

The split will also incorporate a red tape reduction review to ensure the new laws are not only modernised, but also reduce the regulatory burden.

Draft bills will be issued in the coming weeks for public consultation at which time consumers and industry can provide their suggestions on red tape reduction measures.