$50b apartment sector shake-up promised post-election

Source: NZ Herald 20/09/2017

$50b apartment sector shake-up promised post-election

National and Labour are planning a post-election shake up of the $50 billion apartment sector, dogged by disputes, power struggles, lax governance, lack of pre-purchase disclosure, poor maintenance and management plans and financial issues.

Whoever wins on Saturday, the rules governing where around 100,000 Aucklanders live will change significantly.

Nick Smith, Building and Construction Minister, and Phil Twyford, Labour housing spokesman, this week vowed to amend the Unit Titles Act, following Auckland Central MP Nikki Kaye’s big push on the issue in the summer of 2016.

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