Insurance for new Victorian home builds to jump by 65pc
Gus McCubbingReporter
Updated
New home builds in Victoria will be slugged an extra 65 per cent for building insurance, in what the industry says is another blow to securing projects during a housing crisis.
The Victorian Managed Insurance Authority on Thursday said charges for domestic building insurance would increase by an average of 53 per cent from August, a year after all premiums rose by 43 per cent.
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Gus McCubbing is a journalist at the Australian Financial Review in Melbourne. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com
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