23 July 2024

What to do if your builder goes bust?

Australia’s residential construction industry is experiencing an alarming surge in company collapses, leaving countless homeowners and depositors in difficult financial situations. Since mid-2021, more than 2,000 construction companies have gone into liquidation, raising serious concerns about the stability of the industry and the security of those who invest in new homes.

UNSW Business Insights Institute’s role in addressing the crisis

The UNSW Business Insights Institute is playing a crucial role in addressing these challenges through targeted research and industry collaboration. Dr. Bradley Hastings, Research & Insights Associate at the Institute, is leading an initiative aimed at improving consumer protection in the construction industry. This project, in collaboration with Tip Group, focuses on developing a regulatory framework that better safeguards new homebuyers, learning from best practices in financial services regulation.

Research-driven solutions for a more resilient industry

“Our research seeks to reduce the risks associated with residential construction by proposing regulatory changes that protect both builders and consumers,” explains Dr. Hastings. By connecting academic insights with industry needs, the UNSW Business Insights Institute is working to create more secure and resilient systems within the construction industry.

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