The newly diagnosed “Shaky Building Syndrome” is causing tremors throughout the New Zealand property market.

A recent revision of national building regulations has included a new interpretation of what constitutes “a moderate earthquake”.  This has left a great number of buildings, at least 1100 in Wellington alone, in need of upgrading.

It comes at the same time as an otherwise unrelated piece of legislation requiring all city councils to adopt a policy on earthquake-prone buildings before the end of this year.

Wellington City Council, located in one of the most seismically active parts of the country, is taking its responsibilities very seriously. It is due to release a new buildings policy in the next few weeks, but has already identified more than 7000 buildings to be assessed over the coming months.

Government and private offices built before 1965 are most at risk along with similarly aged residential buildings with more than one storey.

Those deemed “earthquake prone” would need to be strengthened or demolished.

Bringing old buildings into line with the new codes could cost up to $NZ100,000 a storey, specialist consultancy the Hybrid Group has calculated.

Residential apartment owners should leave aside $NZ50,000 for each unit that may need to be strengthened.