A Nelson property developer says the Christchurch earthquakes have resulted in a paranoid approach to dealing with quake-prone buildings.
Garie Thompson believes the risk has been blown out of proportion, and has welcomed the Government's decision to extend the time owners have to strengthening of such properties.
Local councils will still have to complete assessments of buildings of multi-storey residential and multi-unit non-residential buildings within five years. Building owners will then have 15 years, instead of 10, to either demolish the buildings or bring them up to 34% of the new building standard.
Mr Thompson says the earthquakes were an extraordinary event and has resulted in over-the-top hype in relation to building regulations.