Big bills loom for house owners
New Zealanders with new houses under construction face huge recladding bills to comply with new building regulations.
Wednesday, March 10th 2004, 6:52AM
by The Landlord
The regulations, introduced by the Building Industry Authority (BIA) last month, apply retrospectively, even if property-owners have already obtained a building consent.
Those who own existing unmodified stucco-clad houses face a significant drop in property value, building experts say.
The BIA introduced the new regulations as part of its Acceptable Solutions, in a bid to address weathertightness issues.
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