Housing (Stage Payments) Bill 2006

Public bill · Private Member · Presented

The Housing (Stage Payments) Bill 2006 would prevent builders from requiring buyers of houses in new housing developments to make progress payments exceeding 10% of the purchase price before the home is finished. It aims to protect buyers from carrying construction risks and paying mortgage costs before they can move in, while preserving stage payments for individually commissioned houses and allowing builders to recover the cost of changes specifically requested by a buyer.

Formal long title

Bill entitled an Act to prohibit stage payments in contracts for certian new houses

Last updated 18 September 2018