Dr Nick Smith, the Minister for Building and Housing, has announced a government proposal to change the timeframes for assessing and strengthening earthquake prone buildings, to be put forward as an amendment to a Bill already before the House.
The proposal divides New Zealand into a three zone ‘traffic light system’ – red being high risk, yellow medium risk, and green low risk. Under the proposal, the timeframes for strengthening earthquake prone buildings in low and medium risk areas would be extended.
This proposal will have major implications for commercial owners, landlords, tenants and insurers. To read more about the proposal and its implications, click here for the Kensington Swan newsflash.