I am concerned to ensure that house purchasers are not adversely affected by any practices that might make it more difficult or expensive to access a home in certain circumstances. My Department has been considering the practice of stage payments with a view to clarifying the issues involved and identifying likely implications of possible options, including potential legislative action, and has been in communication with a number of interests in that context.
Based on this examination, I propose to undertake a more formal and structured consultation process shortly. The overall impact on the home buyer will be the central consideration in this process to ensure, in particular, that consumers are not disadvantaged by any undesirable market practices. While I am not yet in a position to indicate the parties to be consulted, it will be a well focused process, involving relevant interests that are in a position to contribute towards progressing the matter.