Apartment cracking crisis spreads from Sydney to Melbourne

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After a string of major faults have been uncovered across apartment developments in Sydney, the high-rise crisis has now spread to Melbourne, with residents reporting cracking noises and defects in the new 101-storey tower, Apartment 108:

Residents are forking out as much as $2,600 a month for a two-bedroom apartment, but have complained of a number of construction defects at Southbank tower Australia 108.

One resident, who spoke on the promise of anonymity, told The Age the loud creaking noises kept them awake at night.

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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.