Login
Ratings system set to expose risky builders
A new ratings system to determine “risky players” in the building industry is set to be implemented across NSW in an effort to help prevent dodgy apartments from being sold on to unsuspecting buyers.
A statement from the state government has announced the initiative, which forms part of the broader work plan of the NSW Building Commissioner.
The ratings systems will be applicable to professionals in the building industry, with the aim of the reforms to improve transparency, accountability and quality of work within the industry, according to the minister for better regulation and innovation Kevin Anderson.
It will signal a “move way from one-size-fits-all participant recognition and better identify risky players” and will see the commissioner work with ratings agencies, insurers and financiers to assist in better selection of industry participants.
Calling it a “complete game changer for consumers”, Mr Anderson said that “simply put, customers need better built buildings, and our reforms will deliver that”.
“Anyone who doesn’t want to get on board with that concept will get left behind,” he said.
Commenting on the reforms, NSW building commissioner David Chandler said the old days of being reactionary to problems can’t continue.
“The government has a great deal of resources available, including inspectors, which is why we need to make sure we’re using those resources in the best way possible to protect consumers from major defects,” Mr Chandler outlined.
Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.
Free investor loan check
Better property decisions start with smarter lending.
A free 15-minute finance check for property investors.
What are your lending goals?
Choose a goal to request a callback.
Ready to talk?
Book a 15-minute call →Finni Pty Ltd · Australian Credit Licence 384324 · Privacy
