Why iCIRT is set to transform the property development industry
Written by David Lovato – CPC Lending Solutions
March 2025
If you work in property development, you’ve probably heard rumblings about iCIRT. But what is it – and why does it matter?
In short, iCIRT is an independent, data-driven star-rating system designed to give developers, builders, financiers, insurers and – soon – consumers more confidence in the building industry. It helps identify trustworthy professionals and weed out risky players – making it easier to choose the right people for your projects.
For developers, iCIRT has the potential to be a game-changer – not just for project delivery, but also for financing, insurance and competitive positioning.
What is iCIRT?
iCIRT stands for the Independent Construction Industry Rating Tool. It was developed by Equifax (the credit rating agency) in partnership with government and industry, in response to a clear need for greater trust and transparency in the construction sector.
Each iCIRT rating assesses a business or professional’s ability to deliver safe, compliant, and durable Class 2 buildings (i.e. apartments, townhouses and other multi-unit dwellings). The result is a star-rating from 0 to 5, with 3 gold stars or more indicating a trustworthy operator.
Unlike traditional credit ratings, iCIRT doesn’t just look at the numbers. It pulls in thousands of data points – both public and private – to assess six key areas:
- Capability
- Conduct
- Character
- Capacity
- Capital
- Counterparties
The result is an objective, independent snapshot of a building professional’s trustworthiness, risk level and track record.
Why does iCIRT matter to developers?
In recent years, the development sector has been under scrutiny. High-profile building defects, regulatory changes and increasing consumer scepticism have put pressure on everyone in the supply chain to lift their game.
That’s where iCIRT comes in. It gives developers a practical way to identify reliable consultants, builders and subcontractors – and prove their own credibility too.
Here’s why that matters:
- Better project teams – Use iCIRT reports to assess the professionals you bring onto your projects. You’ll reduce risk, improve quality and be more confident in your delivery partners.
- Increased consumer trust – As iCIRT becomes more visible to buyers, being associated with iCIRT-rated professionals (or having your own rating) could become a powerful trust signal.
- Easier access to insurance – An iCIRT rating can help you qualify for 10-year insurance on your developments, reducing friction with buyers and financiers alike.
- Stronger market positioning – A high iCIRT rating sets you apart from the pack. It shows you’re proactive, transparent and serious about quality – all of which can give you an edge in a crowded market.
How to use iCIRT to your advantage
There are two main ways developers can engage with iCIRT:
- Order a report on your project team – If you’re engaging a builder, consultant or supplier, you can request their iCIRT star-rating and report. This helps you assess their credibility before bringing them on board.
- Get your own iCIRT rating – You can self-rate your development business through Equifax. It involves a detailed assessment of your history, practices, finances, project delivery and more. The process typically takes 5-10 days and costs between $1,750 and $9,950 (ex-GST), depending on the depth of the report.
Once rated, you’ll receive a detailed report showing how your business compares to others in the industry – including your star-rating, key strengths and areas for improvement.
The bottom line
iCIRT is more than just another compliance tick-box – it’s a tool that smart developers can use to build better, earn trust and compete more effectively.
Whether you’re a large-scale developer or a boutique builder, now’s the time to consider how iCIRT fits into your risk management, procurement and branding strategies. In an industry where trust is everything, a little star power could go a long way.
As adoption grows, iCIRT may well become an industry standard – so getting ahead now could pay off later.
CPC Lending Solutions is a property development and residential finance specialist. Whether you’re a developer needing funding for land, construction, or residual stock, or a buyer looking for the perfect mortgage, we’re here to help. Contact us at [email protected] or fill in this form.
