In a week that revealed the demise of at least three more building companies, the reality that it could have a devastating impact on anyone buying and building a new home has been rammed, well home.
Building companies have been the worst hit segment of the economy when it comes to insolvencies, and the past week has been a salient reminder that new home buyers need to take as many measures as possible to avoid becoming part of the fall-out.
In the past week, it has emerged that New South Wales-based luxury builder Millbrook Homes went into liquidation owing $4 million to 80 creditors. In Victoria, Bentley Homes went under with $1.8 million in outstanding debts.
In Perth boutique home builder City Residence entered liquidation this week,…
Read the full article at: https://www.apimagazine.com.au/news/article/as-three-more-builders-collapse-how-do-home-buyers-avoid-the-carnage