NBR Radio Property Talk: Leaky building floodgate set to burst

Sally Lindsay and Chris Hutching talk about the latest in property news in Property Talk

0
0:00 0:10

Sally Lindsay analyses the leaky building crisis and what a Court of Appeal decision last week means to thousands of homeowners left in financial ruin after their properties leaked and they had to pay for the repairs themselves.

"The planned Good Cladding class action could become even bigger. Adina Thorn, the lawyer behind the $100 million plus Good Cladding class action expects a lot more people who join her action. This decison is significant because a lot of people have nowhere to turn because they thought they were outside the statutory time limit."

The Companies Office is in the gun for failing to check signatures and addresses on its publicly available information and the Society for Promotion of Community Standards wants something done as Chris Hutching digs into the mess created by one company collapse. "It is hard to track who is behind comanpies these days. People appoint mates are directors or shareholders and lawyers set up nominee companies and you don't really know who is behind things." 

Not only has drought affected a $400 million water project but other issues have also halted the scheme. Promoters are having a rethink over the finance and managment of the scheme as Chris Hutching discovers. 

And big retail developments are underway and planned in Auckand and Rotorua. Retail has been the darling of commercial property investors in the past couple  of years. Sally Lindsay looks at the two new developments.  

To build your own NBR Radio playlist and enjoy instant on-demand access to any audio, sign up for our FREE smartphone-only subscription to NBR ONLINE.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7276 0.0002 0.03%
AUD 0.9137 0.0014 0.15%
EUR 0.5968 -0.0001 -0.02%
GBP 0.5267 0.0007 0.13%
HKD 5.6898 0.0026 0.05%
JPY 81.0550 0.0670 0.08%

Commods

Commodity Price Change Time
Gold Index 1339.2 -11.560 2018-01-17T00:
Oil Brent 69.0 0.110 2018-01-17T00:
Oil Nymex 63.9 0.120 2018-01-17T00:
Silver Index 17.2 -0.020 2018-01-17T00:

Indices

Symbol Open High Last %
NASDAQ 7257.8 7309.4 7223.7 1.03%
DJI 25910.8 26130.5 25792.9 1.25%