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NSW Government Offers Buy Back of Asbestos 'Houses' for 26 councils

Discussion in 'General Property Chat' started by Property Twins, 29th Jun, 2015.

  1. Property Twins

    Property Twins Well-Known Member Premium Member

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    Interesting to see this on the news today:
    $250m is set aside for NSW residents and a lot more for ACT. In NSW you can sell the 'house' to the government. Now whether that is based on replacement value or just demolishing the house for you is what's not clear.

    http://news.domain.com.au/domain/re...-fluffy-owners-keep-land-20150628-ghzw97.html

    Interestingly free testing and registration is only covering 26 city councils. This excludes Hornsby, Holroyd and Blacktown city councils.

    http://loosefillasbestos.nsw.gov.au/resources/hot-topics/areas-eligible-for-testing/

    I've contacted them to ask why are the other councils are excluded? We wouldn't mind this applied to a property or two...Pity we just demolished our Parra council house and miss out on this (assuming it had this type of asbestos given the house was so old (although brick)!

    Happy days for those in this council if they can manage to get a replacement $ value from the government and re-build with minimal costs!
     
    Last edited by a moderator: 29th Jun, 2015
  2. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Why? Why? Why?
    Why can't they simply give a bit of 'financial assistance' to remove the asbestos instead of getting into all these messy stuff??
     
  3. Property Twins

    Property Twins Well-Known Member Premium Member

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    No idea. May be it can't be just removed?
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    It's a huge issue in the ACT.

    The govt is buying back over 1000 homes. This has put pressure on prices within certain established suburbs as those who have opted to sell back (well it's not really an option as far as I'm aware) are looking to buy back into the same areas. The mini spike in activity and lack of available properties means increased prices.

    End result is that some people have lost their family homes and now are being hit financially too. It's a terrible situation to be in.

    Cheers

    Jamie
     
  5. Property Twins

    Property Twins Well-Known Member Premium Member

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    That's because the ACT government bought both land and houses...not just the houses. Which is a nuisance!
     
  6. Sashatheman

    Sashatheman Well-Known Member

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    Are they avoiding Blacktown council, because its a hot-zone and is infested with asbestos?
     
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  7. mush

    mush Well-Known Member

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    The Mr.Fluffy loose fill asbestos based insulation has blown down into the wall cavities of the houses it was installed in and basically been sucked,blown and stuck in every nook and crevice within these homes.

    Previous attempts to remove it have proved to be inconclusive,resulting in full demolition being the only definite way to totally eradicate this deadly health risk.
     
  8. fairy

    fairy Active Member

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    ACT Asbestos Task force is making money out of this buy back scheme ...i used to own one....
     
  9. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist

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    ACT land is leasehold, govt already owned it :)
     
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  10. Property Twins

    Property Twins Well-Known Member Premium Member

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    Wow never buying there then!