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Next Thursday, 25 September, our local Parklands office is hosting an information evening for the public and we would like to invite you to come along and hear several speakers give their update and thoughts as to their current take on geotechnical and local housing issues.
We believe this will be an excellent forum to hear some local keynote speakers.
- Nigel Dixon, Canterbury Geotest
After a 27-year tenure at the University of Canterbury’s Civil Engineering Department, Nigel has established his own geotechnical engineering firm, Canterbury Geotest, providing property owners with high quality, accurate geotechnical information.
- Taviri Ono, Westpac Mobile Mortgage Manager
Taviri will be joining us to provide some insight on Westpac’s ‘Beagle’ system, a tool to simplify how Westpac approaches lending against different categories of residential properties. By matching geotechnical data with information from insurance companies, Beagle enables Westpac to make lending decisions based on the costs of repair and rebuild, rather than being driven by a property’s technical category classification. This has moved to reduce the stigma attached to TC3 properties and has provided sellers and buyers alike with some much sought-after certainty.
- Ken Pope, RAS Project Manager
The Residential Advisory Service (RAS) provides free, impartial help to residential property owners who are facing challenges in getting their home repaired or rebuilt. The service helps you to understand the process you are going through and to make progress in your repairs or rebuild.
WHEN Thursday 25 September, 7pm
WHERE Waimairi Beach Golf Club, 460 Bower Avenue, Parklands
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Feel free to just show up on the night – it’d be great to see you there!
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Last week while handing keys over to a client (who incidentally is renting the property she purchased in St Albans/Merivale until settlement due to the requirements of the insurer because of TC3 land zoning) I coincidentally met a geotechnical engineer from Aurecon on site. After a reasonably in-depth and informative conversation I was able to glean some very helpful information.
While he mentioned that residential work is currently only a very small portion of their workload and individuals requiring their services can expect a reasonable wait he made a couple of relevant comments that I thought would be welcome news for those blighted with the TC3 label (my home included):
- Unofficially he mentioned that their company has a maximum charge for a residential property geotechnical investigation/report of $2,000.
- After completing their inspection and subsequent report, if the land is deemed to be of TC2 rating/quality it is his opinion that it is possible to have the category changed for your land with CERA.
- If able to have your property re-categorised he recommended that you do so, as moving forward he believes that it is likely insurers and lenders will mostly likely have more stringent requirements for TC3 zoned property.
I guess one of the advantages for a TC3 home owner is that thorough “site specific” investigation is going to be required for their properties one way or another. For example, if their home is to be rebuilt, their insurance/building company will be required to have a full geotechnical report completed in order to design appropriate foundations. The bottom line in a property transaction is that both the home owner and the purchaser will have comprehensive site-specific information which would not necessarily be the case had it been zoned under one of the other categories – worth thinking about.
I trust February treats you well (and your Valentine) and here’s to good progress with the rebuild.
CORRECTION: To clarify, the $2,000 is for the drilling rig only. The cost for a geotech report from Aurecon is determined on a case-by-case basis. You can contact Aurecon on 03 366 0821.
Further, we have since found that the findings of a site-specific geotech report will be lodged on the city council’s property file and the LIM, but not result in the property being recategorised. Any future building/property requirements will be based on those findings.