A material fact is a fact that would be important to a reasonable person in deciding whether or not to proceed with a particular transaction.

Under the PROPERTY AND STOCK AGENTS ACT 2002 – SECT 52 an agent is required to disclose any material facts about a property that could influence a buyer’s or renter’s decision to purchase or lease the property. This includes any relevant information that could affect the value or desirability of the property.

Material facts include anything that could be reasonably expected to affect a buyer’s decision to purchase or lease a property including but not limited to:- flood, bushfire, asbestos, building defects, unapproved additions, non-compliant swimming pools, easements, rectification orders, criminal activity or planned development nearby.

In short, material fact disclosures are a requirement under the Property Stock and Agents Act 2022 providing buyers and renters with the information to further investigate any issues so they can make an informed decision whether to purchase or lease a property.