Property market update: Melbourne, July 2022
Melbourne continued its downward spiral in July, as the property values in the city recorded deeper declines during the ...
The Property Club has banned buying into housing developments constructed from lightweight materials for the past 26 years. If local councils had also banned the construction of these lightweight buildings, then we would not have the nightmare situation where property owners are now having to spend their life savings making these buildings safe, writes Kevin Young.
These lightweight properties, whether they are high-rise apartments, houses or town houses, are at very high risk of being constructed with dangerous combustable materials.
The reality is that most property buyers are totally unaware they are buying into properties constructed from lightweight materials.
To help our members avoid buying lightweight constructed homes, we developed the following 10-point checklist.
By Kevin Young, president, Property Club
Cladding is a non-loadbearing layer attached to the outside of a home or building to shed water and protect it from the effects of weather.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.