Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


EQC two-thirds through home repairs 3 years on from quakes

EQC two-thirds through home repairs three years on from quakes

By Suze Metherell

Jan. 28 (BusinessDesk) – The Earthquake Commission is two-thirds of the way through repairing houses damaged by the 2010 and 2011 Canterbury earthquakes in a contract managed by Fletcher Building.

Some 50,174 repairs have been made in the greater Christchurch region to homes since the establishment of the Canterbury Home Repair Programme in October 2010, Minister Responsible for Earthquake Commission Gerry Brownlee said in a statement.

EQC aims to finish all repairs by the end of the year. As of today, there were about 27,000 houses still needing full repairs, according to the EQC website.

“The end of the scheme is very much in sight,” Brownlee said.

The government scheme is run through the EQC but managed by Fletcher Building, who won the tender to be the sole contractor.

The 2010 and 2011 earthquakes damaged about 180,000 homes in Canterbury. EQC is required to cover the first $100,000 and has responsibility for about 160,000 damaged homes.

It expects to make cash settlements on about half of the claims and manage repairs for the rest, and had paid some $6.75 billion as at Jan. 28 out of an estimated $12 billion.

The Reserve Bank estimates is the full cost of the Canterbury rebuild will be $40 billion.

In November the Auditor General gave the Earthquake Commission a mixed report for managing home repairs after the Canterbury quakes, with a pass mark for managing the programme and controlling costs, and a fail for how it has dealt with homeowners.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news