Beware the bankrupt builder
Now is a time to get some great bargains from builders but with at least two builders going broke each day in Australia it is more important than ever that you know who you are dealing with.
Blogger: Darren Standish, Property Prosperity
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
As profits flatline and banks play hardball on funding latest statistics show that since January more than 363 companies in the building industry, excluding mining, have collapsed.
In March there were 30 building companies that collapsed, with 33 in April, 51 in May, and 63 in June. Profit margins have continued to shrink down to between zero and 2 per cent. However it appears that the worst is far from over as in the first 10 days of July there has already been 40 building companies collapse in Australia.
Like any major shift in the market it represents a time of great opportunity as well as risk. If you want to make sure when you are building that you get the best quality at the best possible price from a builder who will be there to see your project through give me a call.
About Darren Standish
Darren Standish established Property Prosperity in 2004 initially as a property development company, however after repeated requests for assistance the business evolved into a development consulting business.
Property Prosperity was initially focused on assisting clients with subdivisions and negotiating with councils to ensure that clients maximized their return on investment. Over the years additional services were gradually added to ensure the development process was as seamless as possible for its clients. We expanded into offering individually tailored finance solutions and then added Property Development Analysis, Property Sales and a Builder Broker Services.
Darren is the overachiever of the team and has more qualifications than your average university graduate. As well as completing a Bachelor in Economics, Bachelor in Commerce and post graduate in Accounting he subsequently went on to complete a Diploma in Financial Service, Diploma in Real Estate and Certificate IV in Building. He is a qualified Certified Practicing Accountant (CPA), a licensed Real Estate Agent, licensed Mortgage Broker and holds a Builders License.
