Major Sydney property developer collapses after ‘perfect storm’, leaving buyers in limbo
Australian property developer Bathla Group has entered voluntary administration, citing a 'perfect storm' of rising construction costs and labor shortages. The collapse leaves many homebuyers in uncertainty regarding their property purchases.
Why it matters
This highlights the ongoing instability in the Australian construction sector, which is struggling with inflation and shifting government budget policies.
Bathla joins the long list of Australian developers which have collapsed due to soaring material costs, labour shortages and fixed-price contracts./Getty Images Bathla joins the long list of Australian developers which have collapsed due to soaring material costs, labour shortages and fixed-price contracts./Getty Images Australia news Major Sydney property developer collapses after ‘perfect storm’, leaving buyers in limbo Bathla Group says softening sales and impacts from federal government’s May budget contributed it being placed in voluntary administration
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Prefer the Guardian on Google Embattled home builder Bathla Group has been placed into voluntary administration, leaving customers in limbo in what it says is a “perfect storm” of circumstances.
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