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Susan Lloyd-Hurwitz, the CEO of Australia’s largest apartment developer Mirvac, has demanded an urgent lift in building standards, labelling the crisis in defective units as “outrageous” and a “breach of faith”. From The SMH:
“Of particular urgency currently is the need to raise building standards in Australia,” she said.
Ms Lloyd-Hurwitz said it was “unacceptable” families who bought or rented apartments in good faith could find themselves without a home to live in and then face years of legal battles and substantial costs to rectify buildings.
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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.