Rating tool to lift buyer trust in first new apartment builds
Buyers now have the power of choice when purchasing new apartments off the plan by using an independent rating tool from the NSW Government.
The Independent Construction Industry Rating Tool (iCIRT) uses a five-star system to rate builders on their apartment build, which must meet the minimum benchmark average of three out of five stars or above to be deemed “trustworthy".
The ratings initiative forms part of the NSW Government’s Construct NSW transformation strategy to rebuild public confidence in residential construction.
Minister for Better Regulation and Innovation Kevin Anderson said the iCIRT marked a new era of transparency for NSW apartment buyers.
“Our building reforms have focused on lifting standards and rebuilding public confidence in the residential apartment industry and our rating system is the ultimate embodiment of that goal,” Mr Anderson said.
“Ratings are a game changer. Consumers in NSW will now have the benefit of an independent assessment that lets them find a trusted, rated developer who has shown they have the capital, experience and capability to deliver a quality apartment.”