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ARTICLE · 19 DECEMBER 2018

Changes to off-the-plan sales in NSW conveyancing

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These changes to off-the-plan sales will be the most significant reforms since changes to sunset date clauses in 2015.

AustraliaReal Estate and Construction
Vanya Lozzi
Vanya Lozzi
Elly Ashley
Elly Ashley
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On 22 November 2018 the Conveyancing Legislation Amendment Bill 2018 (NSW) (Amendment Act) received assent by both houses of the NSW Government. However the majority of the amendments, including those to the Conveyancing Act relating to off-the-plan sales will not commence until a date to be determined by the NSW Government, which will likely be in mid-2019. 

Once commenced, this will be the most significant change to off-the-plan since the NSW Government enacted its changes to sunset date clauses back in 2015. A link to our article regarding the main changes can be found here.

  • a 10 business day cooling off period will apply to the purchase of residential property off-the-plan (currently this is only five business days)

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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