Elizabeth Quay towers defects fiasco

#ElizabethQuayTower #Defects #Construction

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.

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References

Elizabeth Quay towers plagued by leaks and building defects

https://thewest.com.au/business/construction/elizabeth-quay-towers-plagued-by-leaks-and-building-defects-ng-b881200185z

Opal Tower Still Empty and Australian’s off the Sirius Tender

#Opal #Sirius #Tender Process

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?

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References

In Sydney’s Opal Tower, 169 apartments remain empty almost four months after evacuation

https://www.abc.net.au/news/2019-04-15/169-aparments-at-sydney-opal-tower-unoccupied-four-months-later/11002796

Sirius bidders kept in the dark

https://www.theaustralian.com.au/business/property/sirius-bidders-kept-in-the-dark/news-story/24380e05ac2e1d7747823eba372a00fe

Central Coast Council Bans Balloons – References

#CentralCoastCouncil #BalloonBan #ShiftTheWindow

Central Coast Council in NSW is looking to ban balloons and bottled water from events hosted on Council Properties. Looks like the Authoritarian Green Anti-fun police are at it again.

https://youtu.be/J92JYgAnwnU

References

Central Coast Council

https://en.wikipedia.org/wiki/Central_Coast_Council,_New_South_Wales

Balloons and bottled waters will be banned from kids’ birthday parties ‘to cut down on single-use plastic waste’

https://www.msn.com/en-au/news/australia/balloons-and-bottled-waters-will-be-banned-from-kids-birthday-parties-to-cut-down-on-single-use-plastic-waste/ar-BBVPbSW?li=AAgfIYZ&ocid=iehp

Mortgage Repayment Fears – References

#MortgageRepayments #PriceCrash #Housing

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?

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References

Lenders release the Kraken: when mortgages rise by $1000 a month

https://www.news.com.au/finance/money/lenders-release-the-kraken-when-mortgages-rise-by-1000-a-month/news-story/c7445bc500e3bb7f3c3319b456639049

Comparing Australia’s Housing Crash to the World – References

#AusPol #PriceCrash #Housing

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?

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References

How Australia’s housing crash compares internationally

https://www.macrobusiness.com.au/2019/04/australias-housing-crash-compares-internationally-3/

Update on the Spreading Housing Bust in Australia, and Why it’s Happening

https://wolfstreet.com/2019/04/02/update-on-the-spreading-housing-bust-in-australia-and-why-its-happening/

UNSW’s Plan to save us from another Opal – References

#Opal #UNSW #Strata

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?

https://youtu.be/9j4CoyYuL_I

References

After Opal Tower: UNSW researchers to investigate major building defects

https://newsroom.unsw.edu.au/news/social-affairs/after-opal-tower-unsw-researchers-investigate-major-building-defects

Finding The Perfect Apartment Block – References

#Opal #ApartmentLiving #Strata

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.

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References

How to spot a perfectly managed apartment block
https://www.afr.com/real-estate/residential/how-to-spot-a-perfectly-managed-apartment-block-20190319-p515j0

Calls for a Building Industry Royal Commission – References

#RoyalCommission #Construction #Australia

I look at recent calls by the Builders Collective for a Royal Commission into our Building Industry and learn about the powers of a Royal Commission.

Read More:
Why Buildings Stand Up
https://amzn.to/2stNb5O

Why Buildings Fall Down Why Structures Fail
https://amzn.to/2RqpREZ

https://youtu.be/YtFpavLAS5c

References

‘Appalling failures’: call for building industry royal commission

https://www.insurancenews.com.au/daily/appalling-failures-call-for-building-industry-royal-commission