Third.i Sets New Benchmark in Newcastle with 10-Year Latent Defects Insurance at Dairy Farmers Towers

Third.i Group has set a new standard in Newcastle by introducing Resilience Insurance's Latent Defects Insurance (LDI) for their latest project, Dairy Farmers Towers. This pioneering move offers a 10-year warranty to off-the-plan apartment buyers, protecting them against structural and construction defects post-completion.

A Commitment to Quality Assurance

Luke Berry, Co-Founder of Third.i, emphasizes that adopting LDI underscores their dedication to building homes that provide lasting peace of mind. "Introducing Latent Defects Insurance is a testament to our commitment at Third.i to building homes and spaces that offer our buyers lasting peace of mind and ensures they feel confident in their investment," Berry stated.

Ensuring High Standards Through Rigorous Oversight

Developers implementing LDI must adhere to stringent construction standards, comply with regulations, conduct thorough risk assessments, and maintain financial stability. This comprehensive approach ensures that unforeseen issues can be addressed without major financial burden to the buyers.

Boosting Market Confidence

The introduction of LDI marks a significant advancement for the off-the-plan apartment market, enhancing buyer confidence and industry accountability. Dairy Farmers Towers is the first development in Newcastle to offer this insurance, positioning Third.i at the forefront of this industry shift.

Educating Buyers and Setting New Standards

As awareness grows, prospective purchasers are increasingly inquiring about quality safeguards like LDI. This evolution reflects a broader industry trend towards greater transparency and buyer protection. ​

For property developers and project managers, incorporating LDI into their projects is a strategic decision that underscores a commitment to quality and buyer protection. As demonstrated by Third.i Group, adopting LDI not only enhances marketability but also positions developers as leaders in fostering a more accountable and transparent industry.​