It has been one of the worst years on record for Queensland’s building sector with companies collapsing owing millions of dollars and leaving hundreds of homeowners in the lurch.
Glen Norris Follow4 min read December 26, 2021 - 3:16PMThe Australian Business Network
It has been one of the worst years on record for Queensland’s building sector with half a dozen major companies collapsing owing millions of dollars and leaving hundreds of homeowners in the lurch.
But experts warn 2022 is only going to get worse with rising material costs due to Covid-19, labour shortages and regulatory pressures set to send more builders to the wall.
The collapse of Brisbane-based Privium Homes in November was followed last week by the failure of Sunshine Coast-based BA Murphy Constructions.
Combined, the failure of both companies has impacted almost 3000 homeowners across the country and left creditors owing sums approaching $100m.
Hervey Bay couple Nikki and Dan Jacobson are $30,000 out of pocket after Privium downed tools on their block in November leaving a pile of timber on their acreage property.