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I have just returned from Queensland where we basically took an old house and gutted it and lifted it because of the zoning rules it was better then building new.
The BSA is completely useless and in the pockets of the building industry. There are continual "exposes" in the media of horror stories where shoddy work has left people in one case I know of having to demolish a house after a minor renovation.
When we were building, as I managed the project, we had to follow every letter of the code no exemptions. Builders could get away with all sorts. Even after the new rules about horizontal wire balustrades a house just up the road was built with one and signed off.
The only system I have seen work is the old system where the council was responsible and carried out the inspections. Although not perfect it was at least in some ways independant and could be made with proper auditing less open to corruption.
The council make the rules, should enforce the rules and be responsible for making sure the builders are held liable. They are at least to an extent responsible to people we elect.
Avoid Master Build Guarantee if possible is my advice to anyone considering building. The guarantee company were not interested in upholding any of the promises that the guarantee made and even threatened me with legal action. They were thoroughly unpleasant at a time when my children and I were facing a winter with a hole in our house, substandard building work and a payment claim from the builder who had abandoned the work!