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uninsurable

Thinking of buying an apartment in Australia?

Did you know that you cannot insure buildings over three stories high in Australia? On Sunday 16 June apartment owners and renters were locked out of a 122 unit apartment tower called Mascot Towers, in Sydney. Due to serious structural weaknesses, residents were rendered treeless like so many koalas, and with little more assistance. In Melbourne on Sunday 23 June, residents and shop owners in a 237 apartment building known as "Liberty Tower" were told to leave because the flooding had cut power throughout the building and damaged the lift. Apparently the water rose to 1.5m in some parts of the basement.

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