Sunday 23 October 2011

New state law change that could spark sales slump

Saw this article from Sydney Morning Herald about a state law change which:

"slashed the statutory warranty period for non-structural defects - such as painting, poor acoustics, faulty wiring, internal fittings and fire hazards - from seven years to two, and to six years for structural problems."

This is ridiculous and a horrible news to everyone. Although reducing a few years of warranty might sound like a huge saving to the builders - specially those who can't do their jobs properly - it's going to have huge impact to all consumers who were interested in building or renovating.

The report also revealed a shocking news which I never heard of:

"no home warranty insurance available to owners in blocks higher than three storeys"

Yes, that's what the article said. If this is true, wonder what would happen to those who already bought an apartment/unit that's higher than three storeys and found any problem with the property?

Gosh! The property market hasn't been that well in the past 12+ months, can't you guys who look after the law stop been so short-sighted and do some proper long term planing that's more beneficial to the general public?

2 comments:

plumbing said...

This law will protect the home owner whenever that there are defect on their house built by the contractor.

Dominic said...

Agree entirely. There seems to be no government incentive for construction. We are builders in South Devonin the UK and can't see what the government is doing to help us either!