NSW to make new reforms for real estate investors
The Australian NSW government has announced that it will undertake new reforms for new buildings and investors. Minister Matt Kean said on Sunday that his building construction will change.
According to the Minister’s statement, building designers and engineers must declare that they comply with the Building Rules of Australia and that the builders are building according to buildings.
Changes in building law include regulation of buildings and punish building practitioners.
“We’re making tough new laws to ensure buildings meet Australian standards, and to guarantee that people who build and design buildings have the proper qualifications to do so,” Mr Kean said.
He added: “This plan will ensure those who control the risks – building practitioners – are held responsible for their work. People deserve to feel safe in their homes and have confidence that they are buying a quality building.
“I’m committed to getting these reforms right. I’ll be continuing my consultations with both industry and community stakeholders to make sure we get the best results for home owners.”
According to Peter Koulizos, head of Australian Property Investment Experts, these regulations are good news for the real estate sector.
Mr Koulizos said “It’ll provide more confidence, in particular to consumers, about whatever is going to be built after this comes in, complies with all the building code standards.”
“It’s great that people that are designing these buildings have to be [registered]… I think that can only be good for the property industry.”
Mr Koulizos added the proposed changes would bring NSW somewhat in line with South Australia due to the need of having building professionals hold some sort of qualification, and as a result, “the [South Australian] system seems to work here very well”.
Sevdenur Demir / [email protected]