ACCC targets property spruikers

The chairman of the Australian Competition and Consumer Commission has vowed to shut down more property seminar marketers and protect consumers from these “con merchants”. Graeme Samuel said that property spruikers are the biggest single threat to consumers in this white-hot volatile housing market because purchasing property is the major investment decision people make in their lives. Samuel said he had several property marketeers in his sights and would be taking action shortly. The ACCC's actions rely on Trade Practices Act clauses relating to misleading and deceptive advertising. State consumer affairs and fair trading departments have been dealing with the avalanche of complaints.