NSW Government blows apartment crisis smokescreen

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Last week we reported that the NSW Government had belatedly appointed a dedicated building commissioner to return integrity to the construction industry amid the proliferation of flammable cladding and structural faults across the apartment market. This commissioner is slated to “drive legislative reforms of the industry” and would be there to convince developers to “do the job properly”.

As I noted last week, this appointment of a dedicated building commissioner amounts to shutting the gate long after the horse has already bolted, given the explosion of high-rise apartment construction over the past decade, which has seen an unprecedented 200,000 high-rise apartments approved:

To make matters worse, the NSW Government also passed laws 10 month ago, which it claimed would “clean up” the residential construction industry and “give confidence to the community and home buyers”, but has failed to implement them:

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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.