{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationInsurance hike will damage Victorian home building
Insurance hike will damage Victorian home building
Member and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
”The Victorian Government’s decision is only about improving the financial performance of the DBI scheme and is premature as the industry waits for the government to announce possible reforms to the scheme.
“This premium increase, which will directly add to the fees and charges paid by home buyers, will not be accompanied by any changes to the insurance benefits.
“The increase also adds to many challenges facing the residential building industry. This will do nothing to help deliver an increased number of desperately needed new homes.
“Home builder cashflow positions, already precariously thin under the weight of sustained pressure from rising building material and labour costs, will be further squeezed by the significant hike in DBI premiums.
“Builders want to stay competitive, but they will have little option but to factor the premium rise into the cost of a new dwelling and pass on to home buyers,” said Mr Ryan.
While acknowledging pressure on premiums has been building for some time due to VMIA’s growing claims exposure to builder insolvencies in recent years, Mr Ryan said the order of magnitude of the across-the-board increase from 1 September is unfair and without precedence.
The vast majority of Victorian builders are not triggering DBI claims and are continuing to complete homes for their clients despite the current challenges they all face.
“Last week’s decision by the Reserve Bank to keep interest rates on hold provided a respite for the embattled residential building sector.
“This announcement has dented that relief and is a stark reminder to home builders that the cost of doing business in Victoria is getting harder, not easier," concluded Mr Ryan.
For more information please contact:
Important changes to building indemnity insurance
On 11 July the South Australian Government announced changes to the maximum payout and minimum works value for building indemnity insurance (BII) in South Australia.
NSW Net Zero Consultation
HIA provided a submission to the NSW Net Zero Commission.
More complying development means more keys in doors
“Expanding complying development will speed-up the delivery of keys in doors to new homes sooner,” said Brad Armitage HIA Executive Director NSW.
Are your potential clients looking for support to build a new home?
Over the past few years, the Federal Government has made a number of commitments to support homeowners into the dream of homeownership. The ‘Help to Buy Program’ is one of these commitments.