off the plan

Show me your stars: Apartment buyers start pulling deposits after new rating system

2022-08-25T17:19:19+10:00

3 JULY 2022 Apartment hunters have pulled deposits and are switching to builders and developers who have earned gold star ratings on a new ratings platform, says NSW building commissioner David Chandler. Since the Independent Construction Industry Rating Tool (iCIRT) register was launched in May, including the first 19 companies rated as trustworthy, four families told Chandler they had withdrawn deposits from unrated builders and developers and taken their business to [...]

Show me your stars: Apartment buyers start pulling deposits after new rating system2022-08-25T17:19:19+10:00

Star Ratings System to Shine a Light on Dodgy Developers

2021-10-05T12:19:28+11:00

5 August 2021 It has a whiff of narcissism about it – “go on, tell me how great I am” – but NSW is about to introduce a voluntary star rating system for new apartment building projects. It’s a slow-burn strategy to eventually freeze the worst players out of the market, but it has been welcomed by owner advocates such as Karen Stiles, executive officer at the Owners Corporation Network (OCN), who says [...]

Star Ratings System to Shine a Light on Dodgy Developers2021-10-05T12:19:28+11:00

Meet the man on a mission to restore buyers’ trust in off-the-plan homes

2021-09-27T12:41:42+10:00

24 September 2021 To some, he’s a knight in shining armour. To others, he’s the devil incarnate. But wherever anyone stands on the rampaging NSW Building Commissioner David Chandler, cleaning up the mess of shoddy apartment construction breaking buyers’ hearts and their bank balances, absolutely no one is indifferent. .. At the peak body of apartment-owners, the Owners Corporation Network (OCN), executive officer Karen Stiles says nipping these problems in the [...]

Meet the man on a mission to restore buyers’ trust in off-the-plan homes2021-09-27T12:41:42+10:00

First Fifty Developers To Be Risk Rated Using New Tool

2022-08-29T10:41:56+10:00

OCN MEDIA RELEASE:  28 JULY 2021 Executive Officer at Owners Corporation Network, Karen Stiles said the tool will take the guesswork out of buying an apartment in NSW. "The last thing prospective owners need is to spend their life savings buying into a problematic building, but in the past consumers have had to rely on the developer's word that the property is a safe and sound investment," Ms Stiles said. "This tool [...]

First Fifty Developers To Be Risk Rated Using New Tool2022-08-29T10:41:56+10:00

Licensing of Conveyancers

2021-07-29T18:38:14+10:00

21 JULY 2021 OCN made a short submission calling for the same standard of conduct to apply to Conveyancers as applies to Lawyers.  The current regulatory framework lacks the rigour to ensure appropriate protections for consumers. > Download PDF

Licensing of Conveyancers2021-07-29T18:38:14+10:00

‘Not in my domain’: Commissioner powerless to help woman at centre of Sydney defects debacle

2021-04-20T10:16:43+10:00

10 April 2021 A Sydney woman has been told there is nothing the NSW Building Commissioner can do to help recover her life savings after she bought into a 300-apartment tower that had alleged major defects, despite him reportedly saying an investigation is “likely” to uphold her concerns. It comes as the Herald can reveal a sharp decline in fines being handed out to private certifiers for signing off on dodgy [...]

‘Not in my domain’: Commissioner powerless to help woman at centre of Sydney defects debacle2021-04-20T10:16:43+10:00

RE ‘experts’ on better service exclude customers

2021-04-13T08:09:42+10:00

30 MARCH 2021 If there was any doubt which side of the great strata divide Fair Trading is on – between those who make money from Real Estate and those who live in it – it was clarified last week in an announcement from Better Regulation, trumpeting the creation of a Real Estate Expert panel. “The NSW Government has established a panel of real estate professionals to be a voice to [...]

RE ‘experts’ on better service exclude customers2021-04-13T08:09:42+10:00

Sydney building ‘nightmare’ set to cost Maryam her life savings

2021-03-22T12:43:15+11:00

20 MARCH 2021 A Sydney apartment buyer stands to lose her life savings or be forced to buy into a 300-unit development that she has been warned contains major defects. Maryam Behrouz’s pursuit of the great Australian dream has become “a nightmare” after being told she must settle the $625,500 purchase in Kellyville because the building has been ticked off by a private certifier. When Ms Behrouz tracked down the certifier’s [...]

Sydney building ‘nightmare’ set to cost Maryam her life savings2021-03-22T12:43:15+11:00

New laws to protect off-the-plan buyers

2020-08-31T17:17:11+10:00

1 December 2019 NSW home buyers who purchase off-the-plan will be able to terminate contracts or claim compensation if they're materially impacted by changes made to their properties, under proposed changes announced by the state government. Property Minister Victor Dominello on Saturday announced the reforms aimed at creating stronger protections for off-the-plan buyers. "Buying off-the-plan has become increasingly popular. But there are risks involved, and buyers can't just rely on lavish [...]

New laws to protect off-the-plan buyers2020-08-31T17:17:11+10:00

The hidden costs of Brisbane’s apartment correction

2020-10-08T11:49:35+11:00

1 AUGUST 2019 In total, Brisbane has foregone 2497 of the 4014 apartments approved in towers since 2009, said Don Smith, BCI's economics team leader. "From an 'impending oversupply' perspective out of a total of 4000 apartments that are being proposed, nearly 2500 have yet to meet appropriate technical and commercial criteria," Smith said.  "There is an element of self-regulation." The figures paint a reassuring macroeconomic picture of a market correcting, but [...]

The hidden costs of Brisbane’s apartment correction2020-10-08T11:49:35+11:00
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