The luxury Elizabeth Quay Tower in Perth is plagued with defects with one $2million apartment having 200 alone. While Mark Gibson tries to make a tenuous link to Opal Tower this is more a lesson of the dangers associated with buying off the plan and residential tower developer. A premium price does not mean premium quality.
Elizabeth Quay towers plagued by leaks and building
Today we look at the 169 apartments empty Apartments in Opal Tower. Then we look at the tender process for the development of the $500 million Sirius public housing block in NSW. Why are there no Australian backed groups? Wouldn’t the multiplier effect be greater if the funding for the project was from Australian sources?
In Sydney’s Opal
Tower, 169 apartments remain empty almost four months after evacuation
Interest only mortgages repayment periods are steadily ending with many predicted to finish by 2020. Do you think this will have an impact on the housing crash? Are people really so fullish to have not planned for this?
Lenders release the Kraken: when mortgages rise by $1000 a month
Work has been halted on CBUS’s Collins Arch project at 447 Collins Street in Melbourne because of Pre-Cast Column issues. Given recent events at Opal Tower, it is not surprising that people are concerned.
Matt Barrie the CEO of Freelancer warns that the Australian Housing market may never recover and highlights the simplicity of the Australian Economy. Interested by this, I find out how the complexity of the Australian economy compares to the test of the world and it is embarrassing.
We look at an article about the recent ruling concerning the Lacrosse Tower Cladding Fire court case in which owners were awarded over $5.7 Million Dollars. I then read through portions of the judgement to understand why the Architect, Building Surveyor and Fire Engineer had to pay damages to the Builder under and Design and Construction Contract. Shockingly I agree with the Judge!
owners awarded $5.7 million in damages after flammable cladding blaze