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NSW Premier Dominic Perrottet and Fair Trading Minister Victor Dominello have announced that the state will outlaw rental bidding, a move that brings it into line with Victoria and Western Australia.
The new laws mean real estate agents will have to advertise a property for rent with a fixed price.
It will also be unlawful to advertise a rental property with a price range or say it is open for negotiation.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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