New Laws to Protect Canberrans from Dodgy Developers

ACT, Australia

In a bid to improve consumer protections and boost confidence in the residential building sector, the ACT Legislative Assembly will vote on a new Property Developers Act that holds developers accountable for dodgy developments. Minister for Sustainable Building and Construction, Rebecca Vassarotti, stated that the new laws will require property developers to apply for a license before starting any new developments and hold them personally liable for fixing defects in homes they have built. With an estimated cost of over $50 million each year for Canberrans due to poor development choices, the new laws aim to protect homeowners and renters alike. Additionally, the minimum residential building work insurance amount will be increased from $85,000 to $200,000 and the time limit to lodge a claim from 90 days to 180 days. The Government has consulted with stakeholders and made amendments to the Bill to improve the scheme, including an appropriate transition for developers to get a license and prepare for the new regulatory regime. The Government has also excluded approved aged care providers, given the significant oversight they already have through Commonwealth legislation.

Source