Budget ‘secures funding’ for state building regulator
Building Commission NSW will receive $145.1 million in tomorrow’s state budget.
The funds will allow the watchdog to continue inspections, investigate complex building issues, progress reforms, educate the industry, and carry out penalty notice digitisation and data analytics.
The commitment also provides resourcing for joint taskforces, such as with Fair Trading and other regulators including the Australian Securities and Investments Commission.
Building Minister Anoulack Chanthivong says the commission was established in December 2023 as a dedicated regulator with the aim of restoring confidence in the construction industry.
“This $145 million investment secures the commission’s funding over the next four years, so it can continue on its mission to uplift and improve the quality of the residential building sector,” he said today.
So far this financial year, Building Commission NSW has inspected 1015 sites and issued 455 orders, with water ingress and fire safety defects among key problems.
Its Construct NSW platform delivered courses to more than 23,800 students. It launched five courses and plans to introduce a further 16.