WHAT else could we expect?
WERE the Building Commissioner’s hands tied behind his back?
WAS it all a Charade … so that the Berejiklian Government could be seen to be doing somethin’?
THE NSW GOVERNMENT has had its Stamp Duty coffers overflowing for much of its terms since 2011 to date … yet it can’t fund the cost of cladding replacement?
WE HAVE THE NUMBERS SYDNEY ….
ARE we going to allow these punks to continue to build 85% defective rubbish and clad with cheap combustible cladding? And walk away Scot free?
NSW tells flammable building owners to fix it themselves
By Leith van Onselen in Australian Property
February 25, 2020 | 9 comments
After experiencing an unprecedented boom in high-rise apartment construction over the past decade:
And with flammable cladding and structural faults proliferating across Sydney, the NSW Building Commissioner has told apartment owners not to expect a ‘bail-out’:
The NSW Building Commissioner has warned that owners of buildings with defects will not be bailed out by the Government.
“There isn’t a glove that’s going to land around them and write a cheque to rectify [the problems],” he said during a parliamentary inquiry into the state’s building standards.
He added that in instances where there was not a building company to seek damages from, owners would “have to stump and get that work done”.
The State Government will this week again attempt to get through the Upper House its Building Practitioners Bill, which aims to provide a legislative framework to better regulate the industry.
Going by the ABS’ approvals data, around 200,000 high-rise apartments were built across NSW over the past decade, a significant percentage of which likely contain faults.
The cost of rectification will be massive, with owners facing hefty bills while many developers getting away scot-free.
While the announced Building Practitioners Bill is welcome, it amounts to shutting the gate long after the horse has already bolted.
The NSW Government is too late the hero and should never have allowed this situation to develop in the first place.
Leith Van Onselen
Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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