Surge in insurance premiums to push up reno costs for apartment owners

Matt O’Sullivan writes in the SMH that home warranty insurance premiums in NSW are set to rise dramatically in July, by as much as 50%.

Premiums for structural alterations to apartment buildings, townhouses, terraces and villas, such as a new roof, will increase by 50%, while those for renovations like a new bathroom will rise by 35%.

These costs will be passed on to owners, impacting the already challenging affordability of property.

Read the whole article here.