Apartment faults bill surges to $1 trillion

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Estimates of the cost of rectifying Australia’s high-rise apartment faults continues to soar. Last month, the bill was estimated by Equity Economics at $6.2 billion.

Now, Martin North claims the cost could rise to $1 trillion if both the value of collapse and repairs are considered:

One expert says the cost of fixing building defects and the property value lost could total as much as $1 trillion…

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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.