HOUSING – DEVELOPER AND BUILDER’S WARRANTEES
Over the recent years we have had the major parties agree to a reduction of the warrantee period for housing developments. The proliferation of new building materials that are not long term tested; and in the light of the Opal Tower fault issues that have come to light in late December 2018 demands a longer warrantee period for the assurances of the purchaser of the units. The developer, in the first instance, should be held responsible for any claimable faults.
Structural warrantees on all developments will be extended to a minimum of 10 years from the date of the original purchase of the completed building.
Non-structural warrantees will be for a minimum of 5 years from the date of the original purchase of the completed building.
Because of the nature of development companies compulsory insurances will have to be taken out to cover the potential losses of a structural or a non-structural fault occurring within the claimable period.
Private certifiers of building projects will be required to have a greater inspection and responsibility regime.
Private certifiers that fail to adequately inspect buildings will face strong penalties.