Home Innovation Builders is the latest Australian construction company to bring in liquidators

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Australian builders continue to fall like dominoes, while a second builder in Perth goes under within days.

Clients of Perth-based Home Innovation Builders faced a nervous wait Monday following the official appointment of GTS Advisory’s liquidators.

documents deposited with the Securities and Investment Watchdog ASIC show the application was made on Friday, the same day that another Western Australian company – New Sensation Homes – was placed in the hands of WA Insolvency Solutions.

camera iconClients of Perth-based Home Innovation Builders faced a nervous wait Monday following the official appointment of GTS Advisory’s liquidators. NCA NewsWire / Christian Gilles Recognition: News Corp Australia

The Western Australian firms join a growing list of contractors kicking the bucket in recent months as soaring materials and labor costs are exacerbated by Covid-19 delays, eroding builders’ profits and leaving them unable to get the job done be able.

Gold Coast-based Condev, Brisbane-based Probuild and Hobart’s Hotondo Homes are among the other companies set to collapse in 2022 as thousands of Australians find themselves in limbo unsure of when they will ever be able to move into their dream homes .

The directors of Home Innovation Builders were yet to comment on Monday, but client Tiarna Nouwland told The West Australian she suspects the company has been at odds for some time.

Nouwland said she and her husband had no choice but to move into a 108 square meter shed in the grounds of their uncompleted new home in Gabbadah, near Guilderton, north of Perth.

Builder checking blueprint on digital tablet
camera iconGold Coast-based Condev, Brisbane-based Probuild and Hobart’s Hotondo Homes are among the other companies set to collapse in 2022 as thousands of Australians find themselves in limbo unsure of when they will ever be able to move into their dream homes . Recognition: istock

The move was originally due to be completed this month after the deal was signed in March last year.

The couple told the publication they are hopeful other builders and workers could complete the project.

Shockwaves were sent through the construction industry last month when Gold Coast-based Condev Construction went into liquidation after its owners Steve and Tracy Marais were unable to secure a reported $25 million bailout from developers .

That came not long after the collapse of construction giant Probuild, which was working on a number of high-profile projects including 264 luxury apartments in Brisbane.

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