‘Tip of the iceberg’ for homebuilder collapse

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Probuild, Condev, Privium and ABG Group are among the major Australian construction companies that have gone into liquidation in recent months, alongside many smaller builders.

An industry insider has warned that this is only the “tip of the iceberg”, with factors such as the rising cost of labor and building materials having a major impact on home builders, especially if customers have signed fixed price contracts.

The insider says builders likely won’t make money on most homes they build in the next 12 months:

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