The collapse of Porter Davis Homes leaves 1,700 buyers with unfinished builds, while some subcontractors, including bricklayers, plumbers, plasterers and painters, have not been paid since before Christmas.
Residential lot sales across Melbourne and Geelong fell 44 per cent in the September quarter to just 2399 having peaked at over 8500 in June last year.
The Urban Developer digs deep into the construction crisis and learns what the situation is right now, why we are where we are and where it is all headed…
The demise of Australia's construction industry was caused by speculation and greed, major developers argue, with more builders tipped to collapse over the next 18 months, leaving consumers in significant trouble.