By One Agency Townsville, Your Trusted Local Real Estate Experts
Ask anyone who has bought or sold real estate in North Queensland lately and they’ll tell you the same thing: the pace is quick, the paperwork is heavy, and confidence is king. From next year, confidence is set to take centre stage. On 1 August 2025, a brand-new, mandatory disclosure regime arrives in Queensland under the Property Law Act 2023. Every house, unit, and vacant block — from the quiet streets of Idalia to the beachfront homes along The Strand — will need a standardised Form 2 Seller Disclosure Statement before a buyer can sign on the dotted line.
At One Agency Townsville we’ve been watching the legislation develop ever since it was tabled in Parliament. Below, we unpack why the change is happening, what will actually be required, and — most importantly — how the timing could influence local prices, negotiation tactics and your own selling or buying strategy over the next 18 months.
A quick history lesson
Queensland has always been the “odd state out” when it comes to seller disclosure. In Victoria, a Section 32 Vendor Statement has been mandatory since 1962. New South Wales introduced its Contract for Sale disclosure staples in the 1980s. Until now, Queensland relied on a patchwork of specific-issue forms—pool safety, smoke alarms, body-corporate certificates—plus the buyer’s own searches during the cooling-off period. The Property Law Act 2023 sweeps away that piecemeal model and replaces it with a single, consolidated snapshot that must reach the buyer before the contract is even created. The reform passed the Legislative Assembly in October 2023, the supporting Regulation was gazetted in March 2024, and the 1 August 2025 commencement date is locked in.
Why the government is forcing the issue
Two words: transparency and efficiency. The drafters want fewer eleventh-hour contract terminations, less arguing over “who knew what and when”, and a smoother settlement pathway that resembles southern states. The drafters also know that interstate migration to Queensland is at record highs—about 1,100 new residents a week, according to ABS data. Many of those buyers arrive expecting Victorian- or NSW-style disclosure and are baffled when they don’t get it. Aligning Queensland practice with the rest of Australia reduces confusion, attracts more confident capital, and gives our region a competitive edge.
What has to be revealed
The Form 2 runs for about eight pages and is supported by certificates from titles, council and utility authorities. It will summarise:
• Registered encumbrances (easements, covenants, leases)
• Zoning, flood, coastal-erosion and bushfire overlays
• Outstanding infrastructure proposals (think ring-roads or water mains)
• Building approvals, pool-safety status and unapproved works notices
• Heritage listings and tree-preservation orders
• The most recent rates and water notices.
If you are selling a unit, you’ll also need the Community Management Statement and a body-corporate certificate. Each item must be current at the time you hand it over. Give a buyer an out-of-date flood map and they can bail out at any time up to settlement—no questions asked.
Timing, timing, timing
The date matters more than many people realise. Contracts signed prior to 1 August 2025 proceed under today’s regime; contracts signed from 1 August 2025 onward are captured by the new rules. That cut-off creates three distinct phases:
1 Now – 31 December 2024: information-gathering season. Sellers who hope to list after Christmas should start compiling titles, building approvals and body-corporate minutes. We can help you order searches that last for six or 12 months, meaning they’ll still be valid by the time the law flips.
1 January – 31 July 2025: the “rush window”. History suggests some owners will try to beat the deadline and sell under the older, lighter regime. A surge of listings may soften prices briefly, giving buyers an opportunity. One Agency Townsville will be guiding vendors through realistic price-setting so they don’t compete in a crowded marketplace.
From 1 August 2025: the “new normal”. Expect longer lead-in times before a property can launch online—marketing can begin, but no offer can be accepted until the statement is ready and delivered. Well-prepared homes will stand out; poorly prepared ones may languish.
Likely market impacts in Townsville
Up-front certainty can translate into stronger offers. Buyers will have fewer “what if” fears and may be willing to sharpen their pencil earlier, especially in the popular $550k–$800k family-home bracket. Investor interest—already buoyed by a 4.9 per cent gross rental yield city-wide (CoreLogic April 2024)—should increase too, because interstate landlords can compare apples with apples across state borders.
There is a flip side. Some sellers, particularly landlords off-loading older properties with questionable approvals, may find the new disclosure costs (around $350–$600 for certificates) and additional risk of termination unappealing. A proportion could withdraw stock, tightening supply and nudging prices higher in late 2025. In short: expect a dance between initial seller hesitation and pent-up buyer confidence.
One Agency Townsville’s game plan
We’ve already integrated a “Disclosure Countdown” checklist into every listing appraisal. The checklist covers 25 items—from council infrastructure charges through to the lesser-known Environmental Management Register—so your Form 2 won’t trigger a termination clause later on. Our digital signing platform (DocuSign) is approved by the Queensland Government, meaning we can have sellers sign the statement electronically even if they are FIFO workers at Mount Isa or grey nomads travelling in the Kimberley.
Behind the scenes we’re:
• Partnering with local conveyancing firms to offer a fixed-fee search bundle;
• Training staff on the difference between “must disclose” and “may disclose” so you are not paying for unnecessary paperwork;
• Updating our marketing timeline so photography and copywriting commence while searches are still pending, shaving two weeks off the typical listing schedule.
If you’re buying through us, we’ll supply the Form 2 via secure link the moment your offer is accepted in principle. That keeps you inside the five-day cooling-off window if you still want building, pest or strata inspections.
Will contracts become “sale-proof”?
Not entirely. The new regime covers a lot, but it doesn’t guarantee structural integrity, pest status, or flood events prior to 1974. Smart buyers will still book their own inspections, and smart sellers will still rectify obvious defects to avoid renegotiations. Think of the Form 2 as the legal X-ray—independent inspections remain the medical check-up.
What about agents’ liability?
Under section 99 of the Property Law Act 2023, agents are protected if they “act honestly and reasonably” and rely on information supplied by the seller or a competent professional. Translation: using a reputable agent matters. DIY vendors who download a template online but forget a sewer-easement attachment could find themselves in litigation territory. At One Agency Townsville we carry PI insurance well above the industry minimum and maintain ISO-certified data security so your disclosure documents don’t leak into cyberspace.
Key deadlines at a glance
• 31 Dec 2024: advisable cut-off for ordering 12-month searches that will remain current on 1 Aug 2025
• 1 Jul 2025: last safe listing date if you plan to exchange before the changeover but still run a 21-day campaign
• 1 Aug 2025, 12:01 am: contracts signed from this moment need Form 2 delivered to the buyer upfront.
Links for the research:
• Property Law Act 2023 (Qld) – full text:
www.legislation.qld.gov.au/view/html/asmade/act-2023-031
• Property Law Regulation 2024 – search fee schedule and Form 2 template: www.legislation.qld.gov.au/view/html/asmade/sl-2024-0052
• Queensland Government seller-disclosure factsheet: www.qld.gov.au/housing/buying-selling/seller-disclosure
• REIQ Seller Disclosure Toolkit (member access required): www.reiq.com/resources/seller-disclosure
• Historical comparison of Australian disclosure regimes: www.austlii.edu.au/au/journals/UTasLawRw/2022/7.html
What should you do today?
If you’re thinking of selling in the next two years, book an obligation-free appraisal with One Agency Townsville. We’ll map out both pathways—selling before August 2025 or waiting for the new regime—and give you a costed plan for each. If you’re buying, join our early-access list; we’ll notify you of properties that already have full disclosure documents prepared so you can act decisively.
Final thoughts
Change always feels daunting, but in property the winners are those who prepare, not those who panic. The 1 August 2025 disclosure deadline is really an invitation to lift the bar in transparency, improve buyer trust and, ultimately, strengthen the value of every home in our region. Townsville’s market fundamentals—diverse employment, enviable lifestyle, and a vacancy rate hovering just above 1 per cent—remain rock-solid. By combining those fundamentals with world-class disclosure standards, North Queensland is about to become an even safer, brighter place to invest.
Disclaimer: The information above is general in nature and does not constitute legal advice. Always seek independent legal counsel before acting on any property transaction.