New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.

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www@nzpif.org.nz

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06-11-2012

Wellington property owners asked about strengthening costs

Landlords.co.nz

Seven thousand commercial building owners in Wellington are being surveyed on the issues they face paying for earthquake strengthening work and insurance the Canterbury earthquakes.

Wellington councillor Iona Pannett says the survey is being carried out as part of a programme of activities to make Wellington more resilient.

The Council has assessed 3500 buildings in Wellington found that around 570 need to be strengthened.

"The survey is important because we are asking building owners to let us know what the problems and barriers are for them to be able to complete strengthening works and if they are planning work, how quickly they plan to do this.”

Buildings must be brought up to 34% of the modern earthquake standard.

"We’ve also heard that people are facing really substantial increases in insurance premiums and the survey will ask about this issue as well."

The information gathered will be given to the Government, which will consider the recommendations of the Royal Commission on the Canterbury Earthquakes when it reports back later this year.

Tags: iona pannett

Source: Landlords.co.nz

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