Getting on top of Cladding
COMBUSTIBLE cladding has become one of the most dominant issues in real estate for many years and audits have identified thousands of buildings with outdated flammable cladding.
The real estate sector has been very proactive about the issue and are working with property owners and the State government to identify and remove any dangerous cladding.
It’s a stressful time, but we have been pushing hard to ensure members of the real estate sector have all the information they need.
The REIV recently ran a forum featuring Dan O’Brien, CEO of Cladding Safety Victoria who is running the State government’s $600 Million push to remove dangerous cladding.
Flammable cladding mostly involves expandable foam or aluminium; neither are easy to remove.
The program has already audited over 200 buildings with 434 declared high risk.
A recent audit identified 63 buildings with dangerous cladding in regional Victoria, with 16 in Greater Geelong, eight in the Surf Coast Shire, six in Ballarat, four in Greater Bendigo and three in Moorabool Shire. Many LGAs are still yet to be audited.
Not all buildings with cladding are high rise towers; many are smaller apartment and unit blocks under five stories high.
Cladding Safety Victoria is working with investors and owner’s corporations to develop tailor-made plans to help remove the dangerous cladding and improve the buildings fire rating.
The process isn’t quick, and it can take around one and a half years to remove the cladding safely, while they are refining the process, they are determined not to rush this important work and potentially end up with another Pink Bats scandal.
The REIV is relieved to see work underway, and the real estate sector can’t work without safe homes.