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Calls for construction summit as more builders fail, costs soar

As another major builder hit the wall this week, a peak industry body has called for a national crisis summit to address the issue, while new data shows building costs have skyrocketed.

New residential construction home from brick with metal framing against a blue sky.
Perth builders are the latest prominent construction businesses to hit the wall.

As another major builder hit the wall this week, the peak body representing the interests of 2.5 million apartment and unit owners in Australia has called for a national crisis summit to address declining confidence in the residential construction industry.

Perth-based companies Home Innovation Builders and New Sensation Homes have just joined a growing list of builders to collapse in 2022.

Material and labour shortages, soaring costs and issue…