Councils paid out $1 billion for faulty buildings in past decade

Paul McBeth
Sun, 28 Apr 2019

By Paul McBeth April 29 (BusinessDesk) - Building consent authorities are estimated to have stumped up about $1 billion during the past decade in compensation for defective buildings, including leaky homes. Of that, about a third of the bill was to cover the tab of failed builders and developers who more often than not dodged their liability, with the council-backed agencies usually the last entity standing.  Sapere Research Group estimates there were about 8,800 building defect disputes between 2008 and 2018 - spanning the height of l...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Economist
NATO holds its most important summit in generations
The Economist | Mon, 27 Jun 2022

Jacinda Ardern becomes the first NZ prime minister to attend a NATO summit, this week in Madrid. The meeting marks a crucial moment in the alliance's approach to both Russia and China, says The Economist.

The $200m question: funding free public transport in Auckland
Oliver Lewis | Mon, 27 Jun 2022

A new report outlines four possible solutions to a $200m question.

China’s Economy Improves in June From Lockdown-Induced Slump
Bloomberg | Mon, 27 Jun 2022

Relaxation of covid restrictions helped revive China's economy in June, but the housing sector remains sluggish, metal prices are down and consumers are wary about venturing out to shop.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.