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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.
Another company in the building and construction sector has gone into liquidation with Melbourne-based Caydon Property Group announcing receivers had been appointed.
The developer said its $260 million mixed-use residential project in Melbourne jumped 12 per cent in cost between builder appointments.
Following a bailout offer from the New South Wales government, Metricon has secured a massive new bank loan, temporarily saving it from joining the growing list of building industry liquidations.
When Victorian nurse Jillian Edelsten signed on the dotted line to buy her first property two years ago she...