More builders are collapsing as consumers fight to fix their homes | The Business | ABC News

2024 was supposed to be the end of what building industry pundits have labelled as a "property cyclone". Subscribe: ab.co/1svxLVE
Read more here: www.abc.net.au...
But even if the eye of that cyclone has passed, savage storms continue to wreak havoc on Australia's $270 billion construction sector.
There are calls for greater protections for consumers and subcontractors.
One suggestion from Perth developer and industry veteran Nigel Satterley is for consumer deposits to be placed into a regulated trust account, which already happens in the case of developers, but usually not with builders.
Without changes, the industry fears the housing crisis could get worse.
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2
Like ABC News on Facebook: / abcnews.au
Follow ABC News on Instagram: / abcnews_au
Follow ABC News on Twitter: / abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia