Why Bathla’s demise could help make apartment building in western Sydney more affordable
The collapse of major developer Bathla is expected to increase the supply of land in western Sydney, potentially lowering apartment prices. Experts suggest this shift may also lead to stricter scrutiny of private lending practices in the construction sector.
Why it matters
The failure of a large developer impacts housing affordability and highlights risks in the private financing of construction projects.
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Share A A A The state’s former building commissioner says apartment developments could end up being cheaper to build in Sydney’s west following the collapse of housing giant Bathla because swaths of land the group purchased above market value will probably go on sale at once.
David Chandler, the inaugural NSW building commissioner who led a state-wide crackdown on development standards, has also condemned the private lenders that gave cash to Bathla, effectively propping up the collapsed developer’s projects for years, saying buyers should beware of any builder using non-bank lenders.
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