Dilapidation Reports: A Guide for Protecting Your Property
Protecting Properties Near Construction Sites: The Role of Dilapidation Reports
In the rapidly growing Australian construction market, valued at approximately AUD 228.68 billion in 2023, it is projected to increase to around AUD 298.63 billion by 2028. This growth represents a Compound Annual Growth Rate (CAGR) of 5.48%, as reported by Mordor Intelligence. Such expansion, fuelled by investments, technological innovations, and the rising demand for prefabricated buildings, highlights the growing need to protect properties adjacent to construction sites.
Dilapidation reports are crucial in this expanding market. They serve a dual purpose: safeguarding property owners from potential damages due to construction activities, and providing builders with a defense against exaggerated damage claims. This guide delves into the pivotal role of dilapidation reports, emphasizing their function as both preventative and protective tools in the vibrant arena of Australian property and construction safety.