Back around the turn of the century, the domestic building industry in Victoria was gripped by massive upheaval as privatisation in 1997 was followed by the introduction of industry management in 2002.

Whilst many of these changes were billed at the time as enhancing consumer protection, in a number of areas they in fact largely had the opposite effect – witness, for example, the impact of Last Resort Warranty Insurance upon a significant number of builders and consumers. Moreover, over time, these…