New voluntary asbestos buyback scheme underway: ACT government

The ACT government has announced it will develop a new voluntary buyback program for Mr Fluffy properties as the current initiative nears its end on August 17.

Minister for sustainable building and construction Rebecca Vassarotti said that, from August 18, the new program would support homeowners of any residential properties affected by loose-fill asbestos.

“The community can be confident that the ACT government is committed to the long-term eradication and safe disposal of properties affected by loose-fill asbestos insulation,” Ms Vassarotti said.

“Offering a voluntary buyback program similar to the existing program, that has been in place since 2014, commits to providing a fair and equitable response to homeowners of properties identified after August 17, 2021.”

As of May 2021, there have been 1027 properties affected by Mr Fluffy asbestos, of which 992 were demolished via the Loose Fill Asbestos Insulation Eradication Scheme, 29 were private and assisted demolitions, and one property was surrendered to the territory following demolition. 

Allhomes understands the total sales value generated from 959 properties sold is $643.05 million, including four blocks that were recently sold in Mawson, Chifley, Rivett and Chapman.

The territory’s Mr Fluffy blocks were first publicly identified in 2015. Initially, it was thought there were 1022 properties affected but that has since increased.

“It is reasonable to assume that more affected properties may be identified in Canberra’s older suburbs after August 17, 2021, and continuation of the voluntary buyback measures provides certainty to the community and support to these homeowners,” Ms Vassarotti said.

“It is still important for tradespeople, homeowners and occupiers to stay vigilant. If you think your property may contain loose-fill asbestos, do not touch or move the material. Call a licensed asbestos assessor to come out and inspect the property.”