WA builder folds as new home builds halve nationally
Perth-based builders are among the latest casualties of the woes besetting the building industry, with a collapse in new home sales suggesting the worst may still be ahead.
Loans issued to first-home buyers have recently fallen to six-year lows. (Image source: Shutterstock.com)
New home sales nationally are down almost 50 per cent since the first interest rate increase in the current cycle in April 2022, with the latest industry casualty being a Perth northern suburbs builder.
Two Rocks
-based builder Pride Homes and Developments has folded, with the liquidator Hamilton Murphy’s Stephen Dixon and Brett Orzel appointed to wind up the business.While the company had about a dozen residential projects and one commercial j…
