Mr. Mark Garrett:

I will pass to my colleague, Ms McKiernan, in a moment to talk about some of the specifics, if that is all right. In the broad context, the Senator is saying that transactions can become tied up in the legal process. It is a very legalistic process; that is the point. Therefore, any delay occurs in the legal process and that is usually communicated by the solicitors to the buyer and seller in the circumstances. We see delays all the way through. Our submissions to the committee and to the Departments were very detailed. It is deeply frustrating for many of the people involved, including the solicitors. We wish there was a simple solution that would mean doing something would solve all the problems.

We have outlined 15 interdependent parties through the process. One of the things we talked about in the joint effort we have done with the surveyors is that engaging with an estate agent and solicitor well ahead of selling a property will help to alleviate those delays. If you get these documents in place in advance, it will help to move the system along. I am in agreement on all of those matters. However, there are delays in getting deeds. Some financial institutions work very well to produce the deeds under our system within ten days. However, there are occasions when that does not happen and it takes weeks. For registering a property, there are delays in the probate office. All of these aspects are interconnected. They are all in the legal process. Being caught in the legal process effectively means being caught anywhere in the system. Solicitors have to communicate that to sellers and buyers and frustration will come out in the process.

I would love to think this Bill will solve the problems but, unfortunately, I do not believe that is the case. I believe it is a positive and significant contribution to the debate that recognises we need significant reform in this area. We can work with everybody involved to make sure the process is simplified and digitised. There are significant delays in registering properties. It can take years and if somebody is then looking to resell a house, it is not possible. I would love to believe it is just one thing but, unfortunately, we have developed a system in this country over decades, if not centuries, that has become so complicated that every single person within the system is frustrated. What IPAV and the sponsor of the Bill have done is to highlight some of the frustrations that people have with the system. We share those frustrations. I have listed six issues. In our detailed submission, there are probably a couple of dozen suggestions.