Changes to VIC Legislation – Taking on Underquoting

As the old saying goes, “Quote them low, watch them go!”

Underquoting is the practice of misleading a buyer about the likely sale price of a property, and is the issue being taken on by new Victorian Legislation changes coming into effect on 1 May 2017.

Over the past decade, Victoria has seen property prices increase considerably.

House & Unit Median Values

Of course, there are many factors that influence property prices and is generally determined by market forces.

The issue…