As surging real estate markets throughout Australia prompt the unwelcome return of property spruikers, the Australian Securities and Investments Commission says it will take firm action against suspect and unseemly business practices.

Property spruikers were a prominent feature of the boom in Australia’s real estate market around the turn of the century, touting get-rich schemes for everyday investors which frequently fell disastrously short of expectations. ASIC now says the rapid rise in property prices has triggered the emergence of a fresh wave…