New Zealand's Valocity agrees to property-valuation changes over competition concerns

( December 4, 2024, 00:29 GMT | Official Statement) -- MLex Summary: New Zealand property-data and digital-services provider Valocity has agreed to make changes to its online valuation-ordering system, after a probe by the country’s competition watchdog identified areas of concern in the company’s practices. In a statement, the New Zealand Commerce Commission said the investigation uncovered concerns that Valocity may have been limiting competition among property valuers, with “consumers potentially paying higher prices for property valuations.” Valocity provides data and digital services to the residential-property sector in New Zealand, including major banks, property valuers and borrowers seeking mortgage finance from banks and other providers.The full statement from the New Zealand Commerce Commission follows: ...

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New Zealand's Valocity agrees to property-valuation changes over competition concerns

Prepare for tomorrow’s regulatory change, today

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