leaky buildings


PHOTO: ROB STOCK/STUFF The cost of fixing leaky buildings has cost councils and homeowners enormous sums.

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.