For close to twenty years, Australia’s banks have had to verify exactly who they are dealing with before opening an account or approving a loan. The real estate industry, including property agents Perth and professionals across the country, did not face the same obligation, despite being one of the easiest ways to move large sums of money through the economy.
That gap has now closed, and the new anti-money laundering rules applying to Perth real estate in 2026 are already reshaping how a sale or purchase begins across the inner southern suburbs. At Bourkes, we see these reforms as a reason for confidence rather than concern and we want our clients to understand exactly what is changing and why.
Buyers and sellers alike will feel this shift somewhere in their next transaction, whether that’s an extra document request or a slightly longer timeline before an offer goes through. Below, we break down what to expect at each stage, how Bourkes is meeting the new requirements and what it means for Perth’s property market going forward.
Why Real Estate Is Only Now Catching Up
The legal foundation for these changes is the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, which passed Parliament in November 2024. Industry commentators call this expansion the “Tranche 2” reforms, since it brings a new group of businesses under Australia’s AML/CTF regime after the original 2006 laws covered banks, casinos and remittance providers.
- Real estate agents, buyer’s agents, conveyancers and certain property developers now sit inside the same compliance framework as banks.
- AUSTRAC, Australia’s financial intelligence agency, has repeatedly flagged domestic real estate as a higher-risk sector for money laundering.
- Perth’s strong market and healthy investment activity make WA a genuinely relevant part of that national picture.
- The goal isn’t to slow down legitimate transactions; it’s to make property harder to use for disguising illicit money.
What Buyers Should Expect From the Very First Conversation
One of the most noticeable shifts is timing. Identity checks that once happened around settlement can now begin at first contact with an agency.
- Standard photo ID, proof of your current address and an explanation of how the purchase will be funded.
- If you’re buying through a company, family trust or SMSF: extra beneficial ownership information, establishing who ultimately controls and benefits from the entity.
- Overseas buyers, or anyone purchasing a property they haven’t personally inspected, should expect closer attention, as AUSTRAC has flagged both as higher-risk scenarios.
Keep in mind that none of these is an accusation. It mirrors what happens when you open a bank account or apply for a loan, and having documents ready early avoids delays at offer or settlement. For more on what to expect during a purchase, our buyer information page covers the process end to end.
What This Means if You’re Selling
Sellers aren’t exempt. Before an agency can formally act on your behalf, your identity needs to be verified in the same way a buyer’s would be. Where a property sits inside a trust, company structure or more complex joint ownership arrangement, additional paperwork will be needed to confirm who actually has the authority to sell and who stands to benefit. The listing process itself now falls inside the compliance framework, so an agency needs to understand the nature and purpose of a transaction before proceeding. If your agent asks more detailed questions than you’ve experienced before, it reflects a legal obligation, not unusual curiosity.
How Bourkes Is Meeting the New Standard
As a reporting entity under the new laws, Bourkes has:
- Enrolled with AUSTRAC and appointed a dedicated AML compliance officer.
- Put a written AML/CTF program in place.
- Trained every staff member involved in transactions on the new requirements.
- Made customer due diligence a standard part of every buyer and seller engagement.
Working with an agency that takes this seriously protects everyone involved in a transaction. An agency that hasn’t properly prepared creates a point of risk for every sale or purchase it touches. The good news is, our team have been briefed on these obligations as part of our standard training.
Which Transactions Attract Extra Attention
AUSTRAC has published risk indicators specific to real estate. Without reproducing that list, the broad categories worth knowing include:
- Cash-heavy buyers.
- Overseas or remote purchasers who haven’t inspected the property in person.
- Buyers using complex trust or corporate structures.
- Politically exposed persons.
- Transactions with unusual urgency or pricing.
It’s also worth knowing about the “anti-tipping off” rule: if an agent is legally required to submit a suspicious matter report to AUSTRAC, they’re prohibited from telling the client this has occurred. That’s a feature of the law, not a gap in our communication with you.
The Bigger Picture for Perth’s Property Market
In the near term, industry bodies expect some transactions to take slightly longer as agencies and clients adapt to the new documentation requirements, and compliance costs may show up gradually in professional fees. Over the medium to long term, the reforms are expected to lift confidence in the Australian property market by aligning it with international standards set by the Financial Action Task Force.
For Perth specifically, a cleaner, more transparent transaction environment is good news for genuine buyers and sellers, since it reduces the extent to which criminal money can compete for the same properties. Our suburb reports track how local conditions are shifting if you’d like a closer look at your area.
Working With a Team That Is Ready
Bourkes has been operating in Perth’s inner southern suburbs for nearly forty years, and navigating regulatory change of this kind is simply part of delivering a premium service. If you have questions about how the new AML requirements affect an upcoming sale or purchase, reach out to our team directly.
Disclaimer: Information in this article is based on AUSTRAC and Federal Government guidance current at the time of publication (August 2026). Requirements under the AML/CTF regime may continue to evolve, and readers should seek independent legal advice for their specific circumstances before entering into a property transaction.