"Since the late 1960s an unknown and perhaps unknowable number of Canberrans have lived in homes affected by Mr Fluffy loose fill asbestos insulation.

In the late 1980s and early 1990s a joint Commonwealth and Australian Capital Territory (ACT) Government program sought to remove visible and accessible asbestos from affected homes. For a while it was thought by many that the asbestos was gone altogether, or that at least it was confined to roof spaces and wall cavities. This was not the case.

Loose asbestos fibres remain in the roof spaces, wall cavities, and subfloors of affected homes. In recent times they have also been found, sometimes in visible quantities, in cupboards, heating and cooling ducts and vents, living rooms and bedrooms. A very dangerous situation.

In August 2014 the ACT Government made a very bold and expensive decision. The decision was that all Canberra homes affected by loose fill asbestos insulation be demolished, and at least their carpets and curtains disposed of as contaminated waste. This cost estimate is $1Billion to the ACT

Over 1000 homes are affected and are now subject to a “Buy Back” scheme. Owners affected have until 30 June 2015 to enter the scheme selling their home to the ACT Government. This has resulted in a very stressful time for all owners who are concerned about the health of their families and having to leave their home, some of which have been lived in for decades. In many cases, families have had to leave their home, all contents and clothing.

Whilst many home owners are resisting the scheme due to their age or physical condition, some 600 have agreed to sell and a further 300 plus have entered the scheme and are awaiting valuations and an offer. The first demolition is to occur during April/May 2015. The impact on the real estate market has seen a spike in sale values as 1000 buyers look to purchase in a stock depleted market.

I have been appointed by the Chief Minister to a Community Expert Reference Group to advise the Government. REIACT has set up a committee of agents to be available to advise home owners on how to look at the many ways of owning or renting a new home. REIACT has been very pro-active on advising all within the profession on the duty of disclosure as protection of the profession’s reputation was of paramount importance."