ABS data shows the residential construction backlog hit a record $53 billion and nearly 1500 builders collapsed since June, as NHFIC forecast a 124,100-dwelling shortfall by 2028. Master Builders and UDIA blame fixed-price contracts signed before costs escalated; Porter Davis's collapse exemplifies the squeeze.
As I told The Australian: “If you signed a contract just before costs started to grow quickly, and then you're building during a period where those costs are starting to come into play, that's when you get into trouble”
The Australian, 6 April 2023 — Read the full article