If accepted, this voluntary programme gives home owners an option to fast track replacing/repairing or rebuilding any affected homes built in the last 10 years, with the option of pursuing compensation from builders, designers, sub contractors and product suppliers.

The positives I see are:

• Finally a clear path to access funds quickly to repair/rebuild affected homes
• Government taking responsibility for "part" of the issue
• 100% finance available to all eligible home owners
• Availability of choice – this is a voluntary programme.

The negatives I see are:

• Of the estimated 80,000 "leaky buildings", approximately 11,000 will be eligible to this programme
• The issue is an Auckland centric one, but will burden all taxpayers, through the government taxation
• Auckland Supercity rates over the next 5 years will escalate enormously to cover the cost.

It raises a number of questions:

1. Are the local and national governments getting off too lightly with this proposal?
2. How will it effect designers and builders? - Will it give rise to a massive increase in claims against builders and designers, financed (directly or indirectly by local and national government), or will it rapidly reduce the number of current and potential claims as people realise the main benefactors of pursuing other parties are the legal representatives?

What are your thoughts? Please leave your comments below.