Australia: 'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks - - PressFrom - Australia
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Australia'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks

01:06  12 july  2019
01:06  12 july  2019 Source:   dailymail.co.uk

'Walk away from this bombshell': residents tell of Zetland apartments anguish

'Walk away from this bombshell': residents tell of Zetland apartments anguish The building was 'at risk of collapse' when evacuated, as the repair bill soared to more than $5 million.

' Nervous as hell ': Home buyers shun flats in favour of houses after building disasters that Buyers interest in houses has increased by 25 per cent over the past eight weeks. that have forced residents out of their multi - million - dollar apartments blocks has led to buyers shunning flats in

' Nervous as hell ': How home buyers are abandoning new inner-city apartments because of the cracking crisis - fuelling a boom in old-school houses and land packages in the outer suburbs. Buyers are avoiding off-the-plan apartments in favour of similarly priced house and land packages

'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited Interest in houses has increased by 25 per cent over the past eight weeks and housing experts believe it is due to reports that many apartments may be structurally unstable (pictured Mascot Towers) Building disasters that have forced residents out of their multi-million-dollar apartments blocks has led to buyers shunning flats in favour of houses.

Interest in houses has increased by 25 per cent over the past eight weeks, with property experts saying that's down to revelations hundreds of apartment blocks may be structurally unstable.

Cracks were last year found in Opal Tower and more recently at Mascot Towers in Sydney, which resulted in every resident being forced out of the buildings - exposing potential flaws in the NSW planning system.

Thieves snatching up grocery deliveries outside houses, units

Thieves snatching up grocery deliveries outside houses, units Light-fingered thieves are now thought to be targeting grocery deliveries, as food drop-offs get nicked from the doorsteps of houses and unit blocks. In one incident, security vision shows a delivery driver pull up at an apartment block just after 3am. He takes a Marley Spoon delivery from the back of a truck, and takes a photograph of it when he places it before the locked gate. © A Current Affair People have been caught on camera stealing grocery deliveries. Twenty minutes later, the footage shows another car pulling up out the front of the same building.

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'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited Cracks were found in the Opal Tower and Mascot Towers in Sydney which resulted in every resident being forced out of the buildings due to safety concerns (pictured cracks inside Mascot Towers)

Metricon's NSW general manager, Luke Fryer, said he hopes buyers regain confidence in purchasing apartments, but said he understands their hesitation.

'I really hope what we're looking at here is in isolation, but, as it stands in Sydney, people are terrified to enter into an apartment purchase unless there's a whole heap of certainty provided,' Mr Fryer told The Daily Telegraph.

'There's no doubt they're nervous as hell - it's only natural.'

Mascot Towers residents still can't return

Mascot Towers residents still can't return One month on, there's still no word on what caused cracking in Sydney's Mascot Towers.

A swath of new multi million dollar 'trophy apartments ' are springing up along Manhattan's most salubrious street Former billionaire Mayor Michael Bloomberg credited four buildings after he pushed city rezoning laws. The multi - million dollar question is: Who can afford to buy these places?

As opposed to apartment buildings , townhouses do not have neighbouring units above or below Large numbers of terraced houses were built in the inner suburbs of large Australian cities In the 1950s, many urban renewal programs were aimed at eradicating them entirely in favour of modern

Mr Fryer went on to say the gap between the cost of a house and an apartment in parts of Sydney is marginal, which could encourage buyers.

'At Castle Hill around Castle Towers you might spend $1million on an apartment, but you can get a brand new home and land on a 540sq m block in Kellyville for $1.1million,' he said.

While most NSW apartments provide a six-year warranty for structural defects, Metricon offers a lifetime structural guarantee on its new homes.

'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited Metricon's NSW general manager, Luke Fryer, said he hopes buyers regain confidence in purchasing apartments but he understands their hesitation (pictured Opal Tower) 'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited Opal Tower at Sydney's Olympic Park was deemed unsafe on Christmas Eve after building materials began to crack and residents were evacuated (pictured cracks inside Opal Tower)

The apparent abandonment of off-the-plan apartments comes after Opal Tower at Sydney's Olympic Park was deemed unsafe on Christmas Eve when building materials began to crack and residents were evacuated.

'It's a joke. We can't go on like this': fourth block of units abandoned in Sydney

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Reduced total outflow for home buyers could increase the attractiveness of under-construction residential units, considering the base prices remain In its last meeting on January 18, 2018, the GST Council had extended the concessional rate of 12 per cent GST, for construction of houses under the

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The State Government is currently working on a slew of potential reforms for the building industry in the wake of the evacuations.

The 'Building Stronger Foundations' package is expected to include a new registration scheme for building designers and a Building Commissioner to regulate the industry.

'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited Meanwhile, lasers are being used to monitor movement in Mascot Towers and drones will soon film the building's facade (pictured residents being evacuated) Meanwhile, lasers are being used to monitor movement in Mascot Towers and drones will soon film the building's facade.

What caused the 10-year-old building to develop cracks in the primary support structure and facade masonry remains unclear.

Residents have been forced to stay elsewhere after the building was evacuated on June 14.

'Nervous as hell': Home buyers shun flats in favour of houses after building disasters that forced residents out of multi-million dollar apartment blocks© Provided by Associated Newspapers Limited The State Government is currently working on a slew of potential reforms for the building industry in the wake of the evacuations (pictured a resident evacuating Opal Tower)
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Man climbs down apartment block to escape fire Spider-Man-style in West Philadelphia.
A daring escape artist channels his inner Spider-Man to escape an apartment block fire, climbing down the high-rise building to safety. The fire department responded to a blaze around 9:30pm on Thursday (local time) in West Philadelphia. Crews were greeted to a harrowing sight when they saw a man descending along the outside of the building to escape. Video footage shows him clinging to balconies and railings as he climbs down a number of floors to ground level, before crews helped him down. CNN affiliate WPVI reported the fire was believed to have been started by a trash compactor. No injuries were reported.

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