Quake damaged unisurable homes up for rent
Audio, Radio New Zealand
Earthquake damaged Christchurch homes written off by insurance companies are becoming hot property for investors wanting to make money renting them out.
Earthquake damaged Christchurch homes written off by insurance companies are becoming hot property for investors wanting to make money renting them out.
Public and private insurers are warning the damage from Canterbury's series of earthquakes will have economic impact for years.
An Earthquake Commission policy of covering over asbestos in quake-damaged Canterbury houses and not making that information publicly available, is being described as shortsighted and potentially harmful.
Christchurch City Council staff have been given the hurry up from councillors over the length of time it is taking to repair or replace earthquake-damaged council housing.
The Christchurch City councillor in charge of council housing says he accepts trenchant criticism from the Earthquake Recovery Minister that the council has been woeful in fixing its quake-damaged housing stock.
Overlapping claims and general confusion are delaying money payable to New Zealand for damage from the Canterbury earthquakes. The money involved is payable through reinsurance schemes taken out by insurance companies in this country, with firms overseas.
On the third anniversary of the first major earthquake to hit Christchurch thousands of people with the most badly damaged homes are still wrangling with their insurance companies over rebuilds.
Some Canterbury homeowners say their houses have dropped in value because the damage to their properties was inadequately assessed by the Earthquake Commission after the 2010 and 2011 earthquakes. Independent land surveyor, Adrian Cowie, and a Burwood homeowner affected by the quakes, Selwyn Stafford, talk about the issues facing them.