‘Unfortunate’: Housing crunch fuels caravan company busts

Australia’s van life boom has slammed into a harsh reality, with another major caravan maker collapsing even as a growing number of Australians look to life on the road to escape the housing crunch. Victorian manufacturer Essential Caravans has fallen into administration, becoming the fifth caravan-related business in just five months to run into serious financial trouble. The collapse of the Australian-made and owned company is the latest sign of deepening pain across the sector, with rising interest rates, soaring operating costs and weaker consumer spending battering manufacturers and dealers. But the timing is stark. MORE NEWS Aussie first: Renters set for major power savings ‘Torture’: Neighbour caught hurling dirty nappies across fence $5bn homes gone: Foreign buyers flood Aus As caravan companies go bust, more Australians are considering caravans not just as a getaway option, but as a genuine alternative to traditional housing as rents, mortgages and house prices keep climbing. Australia had about 937,000 registered recreational vehicles, including caravans, campervans and motorhomes, as of June. Essential Caravans has become the fifth caravan business in five months to run ...