Underquoting

Underquoting and ‘dummy bidding’ will attract fines of $110,000 in bid to create a ‘fair property market’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe New South Wales government will introduce new laws this week to force property sellers to publish a price guide on all advertising, and impose a fivefold increase to fines for underquoting real estate agents.The government says the draft laws, first flagged last year, are aimed at cracking down on agents providing misleading price estimates on property listings, a practice often used to inflate interest. Continue reading...

Minns government introducing legislation to significantly increase penalties. Follow the day’s updates liveFuel shortages not expected, Chalmers saysJim Chalmers has told Sky the government does not expect Australia to run out of fuel amid the ongoing war in Iran. About a fifth of the world’s oil supplies travel through the Strait of Hormuz and the growing conflict has already played havoc with international prices.We don’t have a model that has petrol prices going that high, but there’s a lot of volatility and a lot of unpredictability in the global oil market.The way these things unfold is ultimately a matter for those officials to determine they’ve done the absolute best they can by these Iranian women under extreme and extraordinary pressure, and often that requires some pretty dramatic and unusual steps, like those which you’ve described. Continue reading...