CONSTRUCTION, CLADDING, QUALITY CONTROL, INSURANCE, CERTIFIERS…………NOW A BILLION DOLLAR PROBLEM FOR NSW
SCA (NSW), the peak body representing the interests of an estimated two million New South Wales strata sector – managers, owners and stakeholders, says the New South Wales economy will take a major hit unless the State Government moves to restore confidence in the apartment, unit, townhouse and commercial strata property market in NSW.
Chris Duggan, State President of Strata Community Association (NSW), says the State Government needs to put a funding package on the table off the back of today’s meeting of Federal and State Building and Construction Ministers in Sydney.
“The NSW Government moved quickly to support the residents of Mascot Towers but we all know now that this is just the tip of the iceberg.
“That iceberg is impacting on confidence.
“Some Mascot Towers residents have been offered $10,000 to purchase their million dollar apartments and no resident in NSW should have to suffer that sort of disgraceful proposition.
“In the flammable cladding area, we estimate that there are well over 10,000 apartments in NSW, Queensland and Victoria that may be affected.
“The Victorian Government has put $600million on the table to address this issue and the NSW Government – supported by the Commonwealth — needs to look at matching this figure.”
Mr Duggan said the NSW Government through the Premier had moved quickly on Mascot Towers, but it is now obvious that the building and construction integrity problem requires a whole of Government strategic response that is properly funded.
“This requires direct intervention by the Premier. She moved quickly on assistance for Mascot Towers and now two million strata stakeholders are turning to her for help.
“We are taking hundreds of calls a day from concerned strata residents who are demanding action.
“There is a two million strong strata army in NSW that wants us to take the lead and to restore confidence in the apartment, unit and townhouse sector.
“People like the owners of Mascot Towers have been caught up in this mess. This mess centres around Federal, State Government and local authority approvals of building products, certification and processes.
“We still have hundreds of kilometres of poor quality electrical cabling that poses a fire risk in NSW and we can’t track it down. Government is still allowing poor quality Chinese made glass panels to come into this country that can explode under stress.
”Insurance premiums are on the rise and the private certifiers issue off the back of flammable cladding has brought the construction industry to its knees.”
Mr Duggan said it was incumbent on the Federal Government to work with NSW and other States because the problems in NSW were replicated Australia wide.
ENDS