There’s a horror story, a happy ending and a bit of housekeeping in this week’s podcasts.The horror is the $714 million owed by Home Building Compensation for all the insurable building defects in Australian homes. And that is money that we, the taxpayers, will eventually have to payIt was all revealed in this story in the Sun-Herald which made us think, if that’s the level of defects in homes than can be insured – anything three storeys or under or any work costing $20,000 or over – how may defects are there in the high-rises that CAN’T be insured?Listen HereThe happy ending comes courtesy of Waverley Bowling Club in Sydney’s Eastern Suburbs – a struggling sports facility that was at various times going to be two 45-metre high rises plus a training ground for Easts rugby league club, and then an aged care home with attached child care facility.As outlined in this story, Easts, the Waverley club and developers Mirvac have come up with a plan to build 55 luxury apartments for over-55s, plus two world class bowling greens and a café restaurant.By the way, in the podcast I refer to the bowls as bowling balls. They’re not balls, they're bowls. I apologise.Finally we chat briefly about why we’ve (ever so slightly) changed the look of the Flat Chat website.I’ve never been a huge fan of form over function and we needed people to be able to access the latest Forum topics high on the front page. So it looks a little busier but we think it still works. What do you reckon?You’ll find a full explanation pus an email address where you can send your complaints or kudos, HERE.TRANSCRIPTION IN FULLJimmy 00:00So, your friend David Chandler, has interfered with the completion of our renovation; did you know that?Sue 00:06No!Jimmy 00:07We were supposed to be getting a silicone guy come in on Saturday, and he couldn't, because there was a building they're working on that the Commissioner had been through and insisted that all the bathrooms had to be 're-caulked', as they call it.Sue 00:25Oh, gosh! David didn't let me know that!Jimmy 00:29So basically, there were panic stations.Sue 00:32So, that's the reason I still can't have a shower in my fabulous new renovated bathroom?Jimmy 00:37Yeah, David Chandler.Sue 00:38Bloody hell!Jimmy 00:40We will be talking about, not renovations, but rectification of defects in a minute, and we're going to talk about a rescue plan for the Waverley Bowling Club, which is going to result in 55 luxury apartments for over 55's, and we're going to talk about the redesign of the Flat Chat website. It's not redesigned; it's a bit of a tweak, that's all. I will explain what we've been up to. I'm Jimmy Thomson, I write the Flat Chat column for the Australian Financial Review.Sue 01:13And I'm Sue Williams. I write about property for Domain,Jimmy 01:16And this is the Flat Chat Wrap. That was a huge story in the Sun-Herald at the weekend, about the amount that's having to be paid in home building compensation.Sue 01:41That's right. I didn't quite understand it, though... I wanted you to explain it to me, because builders pay for home building compensation.Jimmy 01:51HBC, yeah.Sue 01:52But, then they pass the cost on to homebuyers?Jimmy 01:55Yes
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Recorded by Jimmy Thomson & Sue Williams; Transcribed by Otter.ai.
Find out more about Sue Williams and Jimmy Thomson on their websites.
