Media Releases

Media release: Deregulation of valuation industry a concern

29 October 2015

The repeal of the Valuers Act 2003 which will see the deregulation of the valuing industry in NSW is cause for concern, according to the Real Estate Institute of New South Wales.

Minister for Innovation and Better Regulation Victor Dominello last week introduced a bill to repeal 30 laws including the Valuers Act 2003, which will see the deregulation of the valuation industry in NSW and will remove government controlled licences.

REINSW President Malcolm Gunning said if the government does not participate in the controls and oversight of the profession then the potential for detriment exists.

“We find it alarming that the government is on a constant campaign of delicensing,” Mr Gunning said.

“REINSW sees a role for professional bodies to work co-corporately with government for the oversight of compliance with the regulatory environment and the maintenance of professional standards.

“While industry must be involved in the process of regulation, it alone should not be solely responsible,” Mr Gunning said.

For further information or to arrange an interview with REINSW President Malcolm Gunning, please contact: Helen Hull – 0419 642 961 or [email protected].