Property 101: Loose-fill asbestos in NSW homes

Property 101: Loose-fill asbestos in NSW homes
Property 101: Loose-fill asbestos in NSW homes

Your home may be the biggest investment you'll ever make. But if it was built before the 1980s, it could be affected by hazardous loose-fill asbestos insulation. Loose-fill asbestos is raw crushed asbestos, which in the 1960s and 70s, was installed as insulation.

Over time hazardous airborne fibres can move from the ceiling into your living space.

If your home contains loose-fill asbestos insulation, its value in the market will be affected.

The NSW Government is proposing new laws to protect the community from unknowingly purchasing a property that contains loose-fill asbestos. Under these laws, when selling your property, you must confirm in the contract of sale if your property:

  • contains loose-fill asbestos; or
  • is free of loose-fill asbestos.

If you do not comply with these laws you risk significant financial loss and potential legal action. The Government's assistance program is your chance to protect yourself from the financial consequences of loose-fill asbestos.

NSW Fair Trading will provide financial assistance and support to affected homeowners and tenants, but you must register by 1 August 2016.

The NSW Government is providing free sample testing to owners of pre-1980s residential premises in 28 identified NSW local government areas.

For more information click here.

Tags: 
Property Law Asbestos

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