HBCF Insurance changes for apartment projects is great news for feasibility
The NSW Government will remove the requirement for Home Building Compensation Fund insurance on low-rise apartment building projects. HIA NSW says the change will help deliver more homes.
"The removal of the need for Home Building Compensation Fund Insurance for low rise apartment building projects will deliver more homes" - Brad Armitage, HIA NSW Executive Director
How will removing HBCF insurance on low-rise apartments affect my building projects in NSW?
Builders and developers in NSW working on low-rise apartments may see lower upfront insurance costs and better project feasibility. That could mean more apartment work for builders and the trades they hire.
Key takeaways
- HBCF insurance will no longer be required for low-rise apartment projects in NSW.
- HIA NSW says the change will help deliver more homes.
- Removing the insurance cost should improve project feasibility for apartment builders.
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