Builders in NSW demand changes to an insurance scheme they say is driving people out of the industry, pushing up costs and holding back housing supply.
Builder Nic Lenders says reform of the scheme is desperately needed.The NSW government has launched a review of the Home Building Compensation fund.
This financial year, he had to top up his company's cash flow by several hundred thousand dollars as surety."I don't know what their algorithms are, I don't know who is doing this behind the scenes, whether you get a different assessor from the underwriters from one year to the next ... we have no clarity on this, no transparency.Critics of the scheme say it is putting the brakes on housing supply in NSW.
Mr Lenders said SIRA had also shifted the goalposts for eligibility in recent years, so a builder could not longer use personal assets such as their home as surety. "I just don't think it's going to be possible with the way home warranty insurance is in NSW," Mr Saunderson said.ABC North Coast: Hannah RossPeter Sarris has a team of builders at work on his dream home at Knockrow, in the Byron Bay hinterland.
Housing Building Cost Building Delays Home Building Compensation Fund Home Warranty Insurance
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