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SLOW GOING: Residential construction activity has plunged quickly from all-time highs. Photo: Attila Csaszar

Failures further insurance woes

Western Australia’s straining home indemnity insurance scheme is again being thrust into the spotlight after the recent collapse of three builders, with premiums expected to rise and more financial pain likely for the state government.  

Perth-based builders Pitaro Homes and Nominated Homes were placed into liquidation last month, according to documents lodged with the Australian Securities and Investments Commission, with the collapses following that of Geraldton-based Shane Crothers Homes in June.

While the three builders were considered to be small players in the competitive residential building sector, their collapse is nonetheless an indication of the pressures facing the industry.

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