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Beware the Bankrupt Builder

Now is a time to get some great bargains from builders but with at least 2 builders going broke each day in Australia it is more important than ever that you know who you are dealing with.

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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.