The collapse of building company Porter Davis is a “shadow” of the problems the housing industry faced last year, says Housing Industry Association Chief Economist Tim Reardon.
“Rapid increase in material prices, longer build times, meant that builders were carrying more cash
or more liability over a longer period of time than what they typically do,” he told Sky News Australia.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Building insurance agency suffered $250m loss before Porter Davis collapseThe Victorian Managed Insurance Authority blamed the losses on lower investment returns and higher than expected claims last financial year. Industry figures say it shows more builders are struggling.
Read more »
Property firm makes bid to buy collapsed home builder Porter DavisA Melbourne-based property investment company has launched a bid to buy out troubled construction firm Porter Davis.
Read more »
‘It will get worse’ for large building companies as Porter Davis collapses“It will get worse” for large building companies as they attempt to rescue collapsed building company Porter Davis, says Association of Professional Builders’ Russ Stephens. “That’s simply because the damage that has been done since the back end of 2020 with those contracts being signed,” he told Sky News Australia. “That is all beneath the surface, it’s not clearly visible to anyone outside of the company having access to those financials to see that the true damage those price rises did.”
Read more »
Liberals refuse to reveal how they will campaign against the VoiceThe Liberal party refuses to reveal how they will be campaigning against the Voice to Parliament. Of the party’s 17 shadow ministers, only Opposition Leader Peter Dutton, Shadow Treasurer Angus Taylor, Shadow Energy Minister Ted O’Brien, Senator Michaelia Cash, Shadow Education Minister Sarah Henderson, and Shadow Health Minister Anne Ruston have explicitly said they’ll campaign against the Voice to Parliament. Prime Minister Anthony Albanese has said the Solicitor Gneral will make his position on the preferred Voice model before the referendum following demands from the Liberal party to publish his advice.
Read more »
Almost 2000 Aussie families given lifeline after builder collapseAlmost 2000 Australians left in housing limbo could be given a lifeline after a Melbourne millionaire entered a late rescue bid for failed building giant Porter Davis.
Read more »
Joyce reveals why Voice is ‘very dangerous’Shadow veterans affairs minister Barnaby Joyce has warned Australians they must vote No to the Voice to Parliament as the “dangerous” constitutional changes cannot be reversed.
Read more »