BAIRD PUTS DEVELOPERS BEFORE HOMEOWNERS IN LARGEST DOWNGRADE OF PROPERTY RIGHTS

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Apartment owners could lose their home to developers under Baird Government laws that strip the right to home ownership away from individuals.

If 75 per cent of owners in an apartment block agree to sell then remaining owners will have no choice but to sell up, if the Baird Government gets its way. 

The changes will hit people living in any of the 75,000 residential strata schemes such as units, shared accommodation and even retirement villages. 

The law would overturn in one fell stroke longstanding property rights, forcibly evicting people from their homes if three quarters of owners in the same building want to develop or sell up. 

More than 712,000 homes are in scope for the changes, which present the largest overhaul of NSW property ownership in decades. 

The NSW Opposition says the changes in the Strata Schemes Development Bill 2015 will force home owners to sell against their will, allowing developers to kick out the elderly, and families for profit. The Opposition has pledged to fight the legislation. 

Quotes attributable to Shadow Minister for Innovation and Better Regulation Peter Primrose 

“If you own property in NSW you should have the right to decide how and when you sell it, not be forced to leave when a developer tells you.”  

“The Baird Government is touting this legislation under the guise of urban renewal but in reality it’s nothing more than a charter for developers to grab valuable land in NSW and make a killing out of it.”  

“Once again the Baird Government has chosen property developers over mum and dad owners and the elderly who stand to lose out.” 

“The law should not be used to take away people’s homes, which they own, so developers can make money.” 

“Home ownership in NSW will become more insecure.”