Apartments and other multiple unit buildings built before 1976 may face higher insurance costs, costly upgrades and possibly demolition as local councils attempt to make buildings more earthquake resilient (building code compliant).
According to an article in Business Day, many multi-unit residential dwellings built before 1976 could be affected, including older purpose-built apartment buildings, former commercial buildings such as offices and warehouses converted to apartments and many of the multi-storey blocks of suburban home units built in the 1960s and early to mid-1970s.
This does not affect standalone two storey houses or single storey multiple units built before or after 1976.
