The difficulty of finding out about building defects creates an information deficit that threatens public confidence and stability in the apartment market. NSW has begun work on a solution.
Unsafe apartments are being evacuated as confidence plummets – even the author of a report commissioned by building ministers wouldn't buy a new apartment. What will it take for governments to act?
The construction industry crisis didn't happen overnight. Authorities have been on notice for years to fix the problems that now have the industry itself calling for better regulation.
Regulations that are meant to protect residents from building failures and fires have been found wanting. All governments must take responsibility for fixing the defective regime they created.
Years of regulatory failure are having direct impacts on the hip pockets of the many Australians who bought defective houses or apartments. It's turning into a multibillion-dollar disaster.
