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Traditionally, builders have regarded lock-up stage as complete when a home is secure from the elements and unauthorised access.
“The Housing Industry Association supports allowing self-managed superannuation funds to continue using Limited Recourse Borrowing Arrangements to finance the construction of new homes while the impact of the Government’s prohibition is properly assessed,” said HIA Chief Economist, Tim Reardon.
The Housing Industry Association (HIA) has received reports from members regarding an increase in theft at building sites, particularly within new residential developments. While copper theft has been an ongoing concern for some time, recent incidents indicate that offenders are targeting more than just cabling.
The Victorian government has commenced a consultation process on draft regulations and released a regulatory impact statement on the proposed new deposit and progress payment requirements for home building contracts.