Wednesday, 20 March 2019

 Ms KAIROUZ (Kororoit—Minister for Consumer Affairs, Gaming and Liquor Regulation, Minister for Suburban Development) (11:13): I rise today to update the house on the Andrews Labor government’s commitment to make things fairer for Victorians when it comes to buying a home. We know that buying a home is one of the biggest decisions that Victorians make, so today I announce that we will change the rules when it comes to buying off the plan. We will give Victorians stronger protections and crack down on dodgy developers and unethical parts of the financial sector looking to make a quick buck.

Many members here, especially those who represent the booming outer suburbs, will be aware of the increased exploitation of sunset clauses. Certain sections of the property sector have deliberately delayed the completion of developments in order to exploit a clause allowing them to terminate a contract and to resell a property at a higher price. Too many Victorians have unfortunately fallen victim to these dodgy operators, investing honestly with the expectation that their home will be delivered on time for the price that they agreed to pay. We have also heard of developers threatening to use a sunset clause termination unless the buyer pays an additional amount. This is simply unacceptable.

The Andrews Labor government will ensure that off-the-plan contracts cannot be terminated without the agreement of the buyer or without the express permission of the Supreme Court of Victoria. We will also crack down on the ethical and dodgy practice of rent-to-buy schemes. Vulnerable low-income Victorians who are unable to access mainstream finance are being exploited by greedy developers and elements of the financial sector, leaving them with no legal rights and, in many cases, without property ownership.

Mr R Smith: On a point of order, Speaker, with regard to the rule of anticipation given that this bill is being introduced today, the—

Members interjecting.

The SPEAKER: Order!

Mr R Smith: On a point of order, Premier, I wonder if you could rule on my point of order—please. Maybe you could take the chair.

The SPEAKER: Order! The member for Warrandyte! Through the Chair, member for Warrandyte! Without the assistance—

Members interjecting.

The SPEAKER: Order! The member for Warrandyte is entitled to raise a point of order without the assistance of the Premier.

Members interjecting.

The SPEAKER: The member for Warrandyte! Order! The bill has not been second-read yet, so no one knows what is in the bill, so the minister is entitled to make a ministers statement on these issues.

Ms KAIROUZ: Thanks to the Andrews Labor government we have already made renting fairer, we have cut stamp duty for first-time buyers and we have increased public housing supply, but we know there is so much more to do. These reforms will boost consumer protections and will restore balance so that hardworking Victorians can enter the property market with confidence, particularly when they are simply trying to purchase a house to make their home.