I have been reading articles on Combustible Cladding in apartments.
If the apartment has a combustible cladding in their facade, they have to fix it up and may cost millions and their insurance premium may quadrupled until they remove the combustible cladding.
Looking at the news, there are about 1400 buildings affected. If the owners seek compensation from the builders, it may lead to legal proceedings and may take years to be resolved.
The list of the affected buildings is not released to the public. This list would be useful for potential buyers and tenants.
Purchasing an apartment may require further due diligence or delay in purchase until this matter is resolved.
What is everyone's thoughts on this? Anyone affected by this combustible cladding removal?
Link to (presumably the) relevant article for others who're going ???
http://www.abc.net.au/news/2017-12-09/melbourne-residents-co…