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Delco Building Group, Hallbury Homes, WA Housing Group: Why Australia is in a construction crisis

Barely a week goes by without another Australian building company going under and there is no sign of the carnage stopping any time soon. 

The construction industry is a huge and vital sector, employing 1.14million Aussies.

Victorian company Delco Building Group – which won a Master Builders Victoria Excellence in Housing Award – was the latest company to fail in Australia, appointing liquidators last Wednesday despite its strong reputation in the industry. 

The week before, it was announced that two Western Australian companies, WA Housing Group and Individual Developments WA, had collapsed. 

And Hallbury Homes filed for bankruptcy on January 4 owing about $7million to creditors.

Across Australia, hundreds of millions of dollars are owed by failed companies to subcontractors, tradies, clients and the tax office. 

The construction industry isn’t in deep trouble due to a lack of customers – the problems go much deeper than that. 

Some of the biggest names in Australian construction have become insolvent over the past year, including Probuild, Home Innovation Builders, Privium, Condev Construction and Pivotal Homes.

Source of data and images: dailymail

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