Buyer interest plummets as Sydney’s failing high-rises trigger headlines | Owners Corporation Network

Buyer interest plummets as Sydney’s failing high-rises trigger headlines

Sydney residents were evacuated from their Mascot Towers homes in June after cracks appeared in their walls, in an incident that echoed Christmas Eve’s Opal Tower evacuation in Sydney’s Olympic Park area. The images of confused residents milling outside the troubled towers with pets and belongings in their arms have come to represent New South Wales’ high-rise housing crisis. Nearly all (97 per cent) of new high-rise apartment buildings in NSW have some form of structural defect, a report from Deakin University released in June found. It’s a situation executive officer of the Owners Corporation Network Karen Stiles described as a “quiet haemorrhaging”.
Media Publication: 
Media Author: