Across residential construction, builders that look healthy are failing in record numbers. When they do, the damage lands on the people least able to absorb it.
Every failure leaves a trail. Homeowners lose deposits and half-built homes. Subcontractors go unpaid and sit last in line to recover anything. When Porter Davis collapsed in 2023, around 1,700 homes were left unfinished and hundreds of families lost their deposits, many of them uninsured.
Sources: ASIC insolvency statistics, 2024.
Major collapses keep making headlines, year after year.
Customers, subcontractors and the wider industry usually find out only when it is already too late, when the site falls quiet and the money has gone. Being last to know is what makes a builder's collapse so costly.
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