Any balcony can fail if not maintained.
Not only do you risk severe injury, but you also risk serious legal and financial consequences.
There are many different things that can affect the safety of your balcony over time.
These can include termites, wet rot, corrosion and loading.
As a safety measure, home and commercial property owners of a balcony should introduce a maintenance program.
If there is any doubt or a problem is detected, you should restrict access to the balcony and seek advice from a structural engineer or other suitably qualified building practitioner.
Download further information from the Victorian Building Authority.