00:02Box Hill in Sydney's northwest has been left divided. New apartments on one side of this road, partially built homes
00:10on the other.
00:11I worked so hard to be able to buy a property for my mum, especially and myself.
00:17So that will impact the property, the value of the property I bought, so that's number one.
00:22And then number two, that will impact probably us mentally and even the whole family.
00:28This was one of the 45 projects under construction when the developer Bathla entered administration.
00:34If the ones are only half finished or only just started, then that's a real danger. They could languish for
00:40many years.
00:41Some private equity companies have repossessed the sites they invested in, but they're struggling to find new builders.
00:47If you're a builder coming into a job that's half finished, you don't want to be warranting the work that
00:53someone else has done.
00:54Without a builder, sites like these units or these houses, both in Marsden Park, could remain incomplete for years.
01:03Although developers say only a fraction of projects are at risk.
01:07Where I would be concerned is if we were to find substantial defects.
01:12Many of the sites in Sydney's west are clustered and there are fears about the impact on new residential areas.
01:18These sites attract vandalism, they're not maintained and it just brings down the whole area.
01:25An experience like Bathla may in the short term result in a bit of a decline in property prices.
01:32It will become a horror story for me.
01:34Blacktown and the Hillshire councils are particularly exposed with 12 partially built developments.
01:41Bathla was meant to finish a road, sewage and other infrastructure here.
01:44So the councils may be left with a hefty bill well before anyone moves in and pays them rates.
01:51In the meantime, Bathla's branding is being purged and projects like this housing estate near Maitland lie in the hands
01:58of administrators.
02:04And now you move through all your religious chapters and conventions anduinos.
02:04The people who want them to be with this individual and a certain entity.
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