Solido Builders News Today

The collapse of Porter Davis Homes leaves 1,700 buyers with unfinished builds, while some subcontractors, including bricklayers, plumbers, plasterers and painters, have not been paid since before Christmas.

The Urban Developer digs deep into the construction crisis and learns what the situation is right now, why we are where we are—and where it is all headed…

The demise of Australia's construction industry was caused by speculation and greed, major developers argue, with more builders tipped to collapse over the next 18 months, leaving consumers in significant trouble.

The Reserve Bank of Australia warned in October 2019 the construction industry was going to go bust after enjoying a boom between 2012 and 2017.

Building firms are crashing, throwing countless workers out of work and owing millions of dollars to home buyers, contractors, suppliers and workers.

Another company in the building and construction sector has gone into liquidation with Melbourne-based Caydon Property Group announcing receivers had been appointed.

Kiwi tradies are being lured with double pay, free travel to Melbourne and free rent for a year by Aussie builders venturing on to New Zealand building sites, a worker has claimed.

Residential construction costs have surged by 10 per cent in a year, almost double the 5.1 per cent inflation pace. Costs of timber and metal in particular are becoming much dearer.

Two more Australian building companies have entered administration as the worlds material crisis continues to leave tradies without work and owners without homes.

Victorian builder Langford Jones Homes was the latest to go under, ceasing trading last Thursday owing creditors more than $10million.