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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.
Building firms are crashing, throwing countless workers out of work and owing millions of dollars to home buyers, contractors, suppliers and workers.
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.
The Australian Bureau of Statistics revealed in its latest building approval data that the average build for a new house was $413,436 in May.