If the seller was a "private seller" (not a developer, property speculator, person with a property portfolio with regular buys and sells), unfortunately you don't have recourse under the Consumer Protection Act.
However, you do have recourse if you can prove to the satisfaction of a court that the defect was known by the seller and the seller knowingly concealed it from you.
I have to warn you though that these cases are quite tricky to win. For example, if the defect was in plain sight and required only that the prospective purchaser had to be reasonably observant, there's no question of concealment, and you wouldn't have a case. Proving that the seller had knowledge can also be quite a hurdle.
The devil will be in the detail. I seriously recommend you take this to an experienced lawyer to go over the detail of the case and lay out your prospects.
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