Off the Plan Sales in Jeopardy, HIA Says

Off-the-plan sales could be at risk, and jobs could be lost, because of a Supreme Court decision that buyers can cancel building contracts and get their deposits back if projects are not completed in time. The Housing Industry Association’s Victorian Executive Gil King said the court ruling showed no understanding of the significant barriers already faced by builders.

“This decision could not have come at a worse time for the residential construction industry,” Mr King said. “The decision puts projects, and thereby jobs, at risk, and may put the entire future of off-the-plan sales in jeopardy.”

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