7 February 2023

Are you an agent in the ACT who deals with property developers? As key property industry stakeholders, real estate agents bring valuable community insight and perspective when it comes to new property developments.

The ACT Government has announced in a recent media release that they have opened consultation with the community to ask for its views on a discussion paper that considers a range of issues and proposes different options for developer regulation.

The discussion paper looks at a range of approaches to improving the accountability of developers and providing consumers with greater information about developments and the developers behind them. These approaches include:

• a licensing/registration scheme

• a disclosure scheme

• accountability for rectification works

The ACT Government reports on the issue as follows.

Have your say on developer regulation

To ensure the community and industry can have confidence and trust in property developers, the ACT Government is constructing a regulation scheme to keep developers accountable for the work they do in the Territory.

“Canberrans should be confident that when they engage with a developer, the developer is competent, transparent, ethical and accountable,” Minister for Sustainable Building and Construction Rebecca Vassarotti said.

“Currently, the chain of accountability in the ACT’s building regulatory system does not place regulatory responsibility on developers for building quality issues. This must change. Property developers within the building and construction industry must face greater accountability.

“That is why the ACT is developing a system that holds developers to account for development activity over which they have influence or control, with a focus on large‐scale residential and mixed‐use property developments.”

The ACT Government is asking the community to share their views on a discussion paper that considers a range of issues and proposes different options for developer regulation.

“From the vital feedback we receive from the community and industry, the ACT Government will develop a framework that will improve accountability of developers and provide the community with greater information about developments and the developers behind them,” Minister Vassarotti said.

“While recognising poor behaviour by only a few developers is largely responsible for a poor public perception of developers, we expect any developer regulation framework will improve building quality and safety, particularly in multi-storey development

“The discussion paper looks at a range of options, which include a licensing or registration scheme, public disclosure obligations about developers and development activity. Some of the options we’re looking at may be complementary with each other and could be implemented together.

“We’ve done extensive research in developing the discussion paper including engagement with our colleagues in Queensland and New South Wales. The paper incorporates feedback from previous inquiries, stakeholder engagement, government reports, media reports, academic literature, and jurisdictional review.

“We want to make the best decision for the community. We are committed to introducing property developer regulation within this parliamentary term.”

The discussion paper is available for comment on the YourSay website until 10am Monday 27 February 2023.