Darryl August: Institute of Building Surveyors' President says stricter regulation of building reports is needed

The Mike Hosking Breakfast

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A call for stricter regulation of building reports to address major discrepancies that could be affecting buyer decisions.

The industry’s finding the quality of the $1000 reports vary, with some overstating minor issues and spooking potential buyers.

One real estate agent has told OneRoof he's seen 11 inspection reports for a single property — each with a different opinion.

Institute of Building Surveyors' President Darryl August told Mike Hosking the New Zealand standard for pre-purchase inspections should be looked at too.

“That’s almost 20 years old, and in my opinion, probably needs an update. It excludes things like rental property tenancy inspections.”

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