On Feb 2, Property Council Council submitted to Parliament on the Local Government Official Information and Meetings Amendment Bill. This Bill proposes to amend the current provisions of the land information memorandum (LIM) system to include a requirement for local authorities to provide property buyers with information on natural hazards (including on the impact of climate change) and contaminants.
Why this matters to our members
Property Council advocates for the creation and retention of a well-designed, functional and sustainable built environment. It is critical that property buyers have access to all relevant information, including natural hazards, in order to make informed decisions. Requiring disclosure of hazard information provides greater transparency and certainty to our sector.
Property Council supports this bill, and we recommend its adoption. We welcome the requirement for local authorities to provide property buyers with information on natural hazards, and also welcome the proposed limitation of liability for local authorities. In our view, it strikes the appropriate balance between improving our sector’s access to relevant information, while also ensuring that prospective property purchasers continue to undergo their own due diligence.