WA tribunal extends Nicheliving customers' wait for new homes

A state tribunal's decision has reversed many customers' chance to terminate their contracts with their troubled home builder.

Transcript

00:00This derelict home in Perth's western suburbs was meant to be a safety net for Richard Hamilton.

00:08He's renting it from Niche Living while he waits for the company to complete his home,

00:14one he signed up for four years ago.

00:16I put all my savings into the deposit for the house and I obviously planned on the assumption

00:24of about 18 months.

00:25When Niche was deregistered, it was a light at the end of the tunnel.

00:29It opened up the possibility of accessing the QBE home indemnity insurance, getting

00:33another builder in, somebody who could actually finish the job properly.

00:37But that light was suddenly dulled by the Tribunal's decision, just five days out from

00:42ending his contract.

00:44I think torture is not exaggerating, it's emotional torture.

00:48The stay order allows Niche Living to operate as if its deregistration never happened.

00:54Customers are still locked into their contracts and the Tribunal heard it's those who signed

00:59on in 2020 who are some of the worse off, after project prices increased by more than

01:0530 per cent in the past four years.

01:08We will continue to oppose Niche's appeal and in the meantime we're looking at what

01:16steps government might be able to take to get those homes built.

01:20There's quite serious black mould up here.

01:23Niche has now sold the house Richard is living in, giving him 30 days to find a new rental.

01:29So I'm angry, I'm shocked and I never found myself at the age of, in my 50s, with a well

01:38paying job on the verge of homelessness.

01:40Most disappointing to me is that, to note that Niche has started selling off some of

01:47its assets, I'm assuming that they're doing that to show that they do have the financials

01:54to meet their obligations.

01:56A scramble to put money on the table as customers continue to pay the price.