11 October 2021
Almost four in 10 new apartment buildings in NSW have serious defects, costing an average $331,829 per building to fix, a new survey has found, although resolutions are rare.
The Owners Corporation Network, which represents apartment owners, welcomed the survey results.
“As the peak body for residential strata owners, the Owners Corporation Network strongly supports research into the incidence and impacts of serious defects,” said chief executive Karen Stiles. “The more we know, the better we can tackle the systemic failures [that] cause so much suffering for affected owners and residents.”