Australia’s flammable apartments facing costly repair bill

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By Leith van Onselen

In the wake of the towering inferno that engulfed London’s Grenfell Tower, killing more than 50 people, action is expected to be taken to fix the many highrise towers across Australia that used similar flammable cladding, which could result in costly repair bills. From The Australian:

Australian Society of Building Consultants NSW president Chris Dyce said the “nightmare” scale of the London inferno had driven home the danger of plastic-based aluminium composite cladding and it would affect the Australian property market. “This is going to extend beyond an issue of personal safety and affect the whole property market,” Mr Dyce told The Weekend Australian. “For ­example, to scaffold a 24-storey tower, take off the panels and reclad it … you are talking serious money.”

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.