Taking the time to check builders’ and tradies’ credentials upfront is the best way to avoid problems when building, extending or renovating.
Those thinking of building a house or undertaking an extension or major renovation are urged to make sure their builder or tradespeople have appropriate insurance, as the number of insolvencies among licensed building companies for 2024 is expected to exceed historical highs.
“Victoria and NSW are impacted the most , with Queensland doing a bit better,” Schweizer says. “Last year in NSW, builders were affected by bad weather, with delays on jobs affecting their progress payments.” “What we are seeing now is a shadow of what occurred in 2022 and 2023, after builders that had held on during the pandemic were wound up,” he says.
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