- This article, the first of a two-part series, considers the completion and statutory warranty aspects of the Home Building Amendment Act 2014.
- Many of the latest amendments to the Act are to the advantage of contractors. Consequently, home owners will need to pay even closer attention to ensure the rights that remain are exercised within time. In particular, close attention will need to be paid to the retrospective application of the 2014 Amendments.
There would be few laws in NSW that have been amended as frequently as the Home Building Act (‘the Act’) and Home Building Regulation. Since 2000, they have been amended more than 55 and 65 times respectively.
The Home Building Act governs an area in which two potentially competing areas meet – consumer affairs and the residential building industry.
The purchase of housing is the largest expense incurred by most Australians and home ownership is still considered the ‘great Australian dream’. The residential building industry employs a large number of people and is one of the largest sectors of the NSW economy.
Consequently, ensuring that consumer interests are protected and keeping the economy stimulated is a balancing act on which much depends.