Builder insolvencies soar as housing bust bites

By Leith van Onselen

Data from the Australian Securities & Investments Commission (ASIC) highlights the impact of the crashing property market on the construction industry. Some 153 building firms across Australia were placed in administration during March, including 64 in New South Wales. From The AFR:

Building industry insolvencies have risen to a four-year high in NSW and are approaching historical highs nationally…

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