Wave of construction firm closures threatens Australia’s national housing target

The construction industry is under immense pressure. Picture: NewsWire/ David Crosling The construction industry is teetering on the edge of collapse as industry confidence falls and business survival rates drop to the lowest levels in a decade, new research reveals. Less construction businesses mean less new builds and could blow out the expected completion date even further for the National Housing Accord target of 1.2 million new homes by 2029. Reporting from The Daily Telegraph on Monday found 7,779 developers nationwide had gone under in the last two years with 3,244 in NSW. Exclusive new analysis provided to this masthead shows a far more dire reality where more than 67,401 construction businesses shut last year. This marks the fourth year in a row above 64,000 closures. MORE: Gridlock: Retirees trapped, families left waiting Construction business survival drops to 46.8 per cent for the first time since 2011. Source: ABS Counts of Australian Businesses, Entries and Exits, Jun 2017 – Jun 2026. Analysis: Primara Research / OurTop10 MORE: ‘Policy spiral’: How rental laws could hurt housing supply Primara Research found 46.8 per cent of construction businesses closed up within th...