Mr Daniell said the time frame for assessment and strengthening offered a big enough window to sort out the problem.
And while the 34 per cent building code strengthening threshold was an "arbitrary" figure, Mr Daniell had faith it was "appropriate".
"There has been some criticism as to the science that's been used to determine that figure but providing the assessments are done on a consistent basis, some figure has to be used as a benchmark."
The Minister for Housing and Construction, Maurice Williamson, has said all commercial buildings and high-rise, multi-unit apartments will have to be assessed for earthquake risk within five years.
Any building found to be at risk of collapse will have to be strengthened or demolished within another 15 years to 34 per cent of the new national building standard. The policy forms the Government's response to a quake-prone buildings after the Canterbury quakes.
Owners will now have 15 years to bring their quake-prone buildings up to standard after assessment, instead of the original proposal of 10 years - a time frame Mr Williamson said would have put too much pressure on building owners.
Every percentage point increase of the new national building standard equated to $700 million in new costs for owners.
Financial incentives would be offered to building owners who strengthened their buildings, though the details would not be confirmed until later in the year.
After cries the original requirement would be an "execution order" for heritage buildings, the Government has also agreed that the most precious heritage buildings will have an extra 10 years to be strengthened.
Local Government New Zealand president Lawrence Yule said some councils well-advanced in their assessments might question whether the new rules required a fast enough response to quake-related risks.
Property Council chief Connal Townsend said strengthening heritage buildings was "like open-heart surgery", and it was possible that some upgrades would not occur within the 20-year time frame. APNZ
