It is fair to say, that plenty of property investors remain unconvinced that there is an issue with meth contamination of property. And I can understand why. If you haven’t had a problem, then really the only person telling you that there is an issue, is me!
So, is there anything in what I am saying? Here is why I believe there is:
- Meth contamination of property comes from manufacture and use
Meth Manufacture Risk
- Since 2000, Police have busted around 1900 labs
- Estimates put this at 5 to 10% of the total number – 19-38000 labs?
- This is the distribution of lab busts around Auckland in the last two years
- A lab can fit in a suitcase (just ask the motel industry) so they move around
- Total number of properties affected by meth labs – who knows!
What we do know is that the majority of labs are found in rentals – 75% 2009. And, At least one insulation company refuses to work on properties with obvious signs of chemical contamination. What do these numbers work out as – 1 in 20 in South Auckland
Meth Use Risk
- Meth use peaked at around 5% of the population (nearly +160,000 people)
- Currently official figures put between 1% and 2.8%
- Unofficial use rates in parts of Auckland 10 to 20%
- Meth is used by people who rent AND own property
- Every property where meth has been used, may be MethAffected
Now not everybody out there will be convinced by what I have set down here. They will continue to rely on Kiwi risk management 101 – ‘She’ll be right!’ Others may choose not to flip the coin with thousands of dollars when they come to buy or rent a property.
A final thought – trained Police officers find themselves in the position where the only evidence they have that a lab has been active, is the results they get from the lab. If trained Police officers can’t pick a meth lab contaminated home by inspection alone, how will you?
Do you know the MethStatus of your property?