Understanding the Impacts of the New Property Law Act 2023 for Sellers and Buyers: What You Need to Know

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Home > Blog > Understanding the Impacts of the New Property Law Act 2023 for Sellers and Buyers: What You Need to Know

The Property Law Act 2023 ushered in a wave of significant changes within the property law landscape in Queensland. Whether you’re a first-time homebuyer, a seasoned real estate investor, or someone looking to sell a property, it is important to be acquainted with these modifications and understand the considerable implications they have on transactions and ownership rights. We explore some of the facets of the new Act, its implications, and how you can adapt to maximize the opportunities presented within these new legal parameters.

Key Revisions and Their Influences

The changes brought forth by the Property Law Act 2023 are more than just legal amendments—they represent a fundamental reorientation of the property market’s operational ethos. By fostering transparency, mitigating disputes, and aligning with the latest in digital technology, these changes elevate the standard of practice to benefit all parties involved.

Standardised Seller Disclosure Statements

One of the most substantial introductions under the new law is the mandate for seller disclosure statements. This requires sellers to provide comprehensive information about the property that previously a seller had no obligation to provide to a buyer. Failure to disclose mandated information could result in the buyer having the right to terminate the contract before settlement.

This move not only saves costs for buyers but also compels sellers to act with full accountability. The new process aims to eliminate surprises post-purchase, ensuring that all buyers have a clear understanding of what they’re entering into.

E-Conveyancing and Modern Transactions

The Property Law Act 2023 acknowledges the reality of the digital age and formally adopts provisions for electronic conveyancing. The impact of these changes reflects that in most cases, settlements are now taking place using electronic platforms.

Legal Guidance  

It is important to seek legal guidance to comprehend the finer details of your rights and the legal obligations under the new Act. In particular:

  • Sellers should ensure that they are obtaining advice on their obligations to ensure that they provide proper disclosure and their sales are not exposed to a risk of termination; and
  • Buyers should ensure they are obtaining advice to be fully informed of their right to disclosure and the consequences where disclosure is not properly provided.


The imminent transition to the new Property Law Act 2023 is a significant event for the Queensland property market. It emphasizes the need for transparency, efficiency, and the integration of modern technology within property transactions. Whether you are planning to buy, sell, or invest, staying informed and working with knowledgeable professionals is essential. Adapting to the changes will not only ensure a smooth transition but also position you to harness the Act’s benefits effectively. The transformation of property law signifies not just a legal change but a cultural shift toward a more honest, efficient, and accessible real estate marketplace.

For more information regarding these changes and how they may affect you, get in touch with Cairns Conveyancing Solicitors today.