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
I look at a recent article from MacroBusiness comparing Australia’s housing crash to those in USA, UK, Ireland and Spain. Then I look at another perspective from Wolf Street. Is the GFC finally catching up with Australia?
How Australia’s housing crash compares internationally
I look at an article from UNSW outlining a new ARC Linkage Grant project that aims to address the severe and growing concern about building quality issues in the multi-unit housing sector. I wonder if they will look at the procurement methodology for all of the buildings they review?
I look at an opinion piece by Jimmy Thomson from the Australian Financial Review with advice about finding the perfect Apartment Block. Given the drop in consumer confidence following Opal Tower everyone is going to be extra vigilant.