The Victorian state budget has $46.4 million set aside in 2019-20 to address an issue that has put the safety of apartment dwellers at risk and lowered the value of landlords’ investments.

The funds are provided for risk assessments of private buildings by the Victorian Building Authority, plus another 15 cladding rectification projects. The rectification program on government buildings with combustible cladding will continue.

This year, 550 building audits looking for non-compliant cladding are set to be completed, with 480 scheduled for next year. Cladding rectification work has already begun on about 22 high-priority government buildings.

Article: Domain | Seven things we learned about property in the Victorian state budget