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Cladding Safety Victoria - Is this the solution to the Combustible Cladding debacle?

Marcel Dybner

· Property Investing,Apartment living,Cladding,Real Estate Blog,Melbourne property

Today Premier Daniel Andrews and Richard Wynne, Minister for Planning announced they would be introducing a new Government agency tasked with overseeing the issue Victorian buildings are facing with combustible cladding. With an estimated $600 million bill, the Cladding Safety Victoria (CSV) agency will be busy.

At todays announcement, is was explained that:

  • the grants will fund rectification works on buildings found to have 'high-risk' cladding and rectification will be prioritised on a 'risk' basis
  • CSV will assist and guide owners corporations through the rectification of about 500 residential buildings expected to take place over a 5 year period
  • funding will not be available for the rectification of industrial or commercial buildings
  • the Government will fund half of the rectification works, with the additional $300 million intended to be raised over the next five years via changes to the building permit levy
  • an initial pilot will be immediately commenced for 15 buildings, as a learning process
  • CSV will contact the most at risk owners corporations and property owners shortly

A report issued by the Victorian Cladding Taskforce can be found here: Victorian Cladding Taskforce Report.

The report makes the following recommendations:

  • rectification should bring buildings down to an acceptable level of risk
  • rectification will need to be building specific and could range from full removal and replacement to no rectification needed if a building is deemed acceptable risk
  • the Victorian Government should seek Federal funding for the CSV program
  • the Victorian Government should implement a process to enable recovery of the cost of rectification from responsible parties, including taking a transfer of owners’ rights
  • the Victorian Government should negotiate with insurers to make a substantial contribution to the cost of rectification
  • if rectification is to be achieved through partial removal and replacement and a performance solution, the solution should be 'blessed' by the Building Appeals Board
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