New Australian Bureau of Statistics data released on Thursday showed 50,000 construction companies were set up between July 1, 2020 and June 30, 2022. But there are fears of more collapses.
Two more Australian building companies have entered administration as the world s material crisis continues to leave tradies without work and owners without homes.
Australia s largest home builder Metricon is holding crises talks with major clients amid soaring prices for timber, steel and other materials as it reels from the death of its founder.
A $730million luxury hotel nicknamed Sydney s Ribbon remains a dust-covered 25-storey eyesore after the company in charge of its construction fell into administration.