31 January 2020
The New South Wales government is planning to introduce a new ratings system for builders and developers in an attempt to protect consumers from buying dodgy apartments.
The tool will create a risk profile for every planned project based on the track records of the builders, designers, developers and certifiers involved in the development. And the legal reforms accompanying it will give the government stronger powers to stop occupancy certificates being issued on dodgy buildings.
Karen Stiles, chief executive of the Owners Corporation Network (OCN), described Mr Chandler’s ratings system as an “exciting” development. “It will assist prospective purchasers to make better purchasing decisions. And it’s certainly going to help the regulator identify risky projects early on,” Ms Stiles told The New Daily. “Because the problem we’ve had for so many years is that everybody’s tried to mop up the problems at the end, instead of preventing them in the first place.”
The New Daily