The WA government is trying to entice more people to buy off-the-plan apartments but some buyers, caught in a dispute with an embattled builder, wonder whether there are enough guardrails in place.
As WA's population soars past three million, the government is looking skyward for a housing solution.
But with those reforms still a while off, these apartment buyers think you should read their story before making a purchase. She put down a $18,850 deposit for an apartment in the Sky Homes Nicheliving complex in the Perth suburb of Inglewood in 2021. She said she was at the point where she just wanted to exit the contract but had been advised by a lawyer that this was not an option.Another buyer, Claire, put down a $35,000 deposit for a Sky Homes Nicheliving apartment in 2020 and was hopeful it would be completed before her contract was up in mid-2026.Commerce Minister Sue Ellery said while she sympathised with them, the situation was different to what home builders were going through.
Ms Ellery said the lack of home indemnity insurance for buildings over three stories was "a market failure"."I am advised that no Australian state or territory mandates home indemnity insurance for apartment buildings for the very reason that no private insurer offers such products.
Nelson and Kirstyn Pray are among more than 200 Nicheliving customers who were given a lifeline by the WA government this month. But they're still facing a battle to get their home finished.
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