Construction company collapses tipped to continue due to rising material costs, interest rates hikes

 Experts say construction companies across the country will continue to go broke as material costs and interest rates keep rising. 

The future of dozens of projects in Queensland, including two sites on the Gold Coast, New South Wales and the Australian Capital Territory is uncertain after the collapse of PBS Building this week.

Master Builders Gold Coast regional manager Adam Profke said it was a nasty situation for everyone involved and the industry's crisis would continue for months.

"It's an exceptionally tough time, it's unprecedented," Mr Profke said. 

Read More: https://www.abc.net.au/news/2023-03-12/construction-industry-crisis-material-costs-interest-rate-rises/102074504



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