Stigma of leaky buildings hits owners of dry homes
House-buyers appear to be rejecting monolithic-clad homes - widely associated with leaky building syndrome - with the values of such properties rising more slowly than other types in Auckland.
Monday, June 20th 2005, 6:50AM
by The Landlord
Property expert Dean Humphries is about to launch a major probe into the stigma attached to leaky buildings to find out how much values are hit.Mr Humphries has already investigated property values in a small group of Auckland homes built between 2001 and last year.
Their values rose much less than others throughout the whole market, he said. Auckland residential values rose 31 per cent in that period, but the houses in the study increased just 5 to 12 per cent in value.
Although many houses clad in this way did not leak, owners had found their values hurt, he said.
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