No price 'stigma' for ex-leaky homes clad in weatherboard, researchers find
Reclad leaky buildings are selling for the same prices as homes and apartments that have never leaked, University of Auckland academics have found.
To lose the stigma of being ex-leaky buildings, however, a reclad could not be done with monolithic cladding, and instead had to be done with weatherboard, or another cladding trusted by the public.
Michael Rehm, William Cheung, Olga Filippova and Dipesh Patel from the university's Department of Property found that the value of leaky homes that had been remediated and reclad in non-monolithic cladding systems, was on a par with ordinary dwellings.
Leaky homes reclad with monolithic cladding sold at an average six per cent less than those clad with weatherboard.
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