Browse Forums Building A New House 1 Mar 31, 2023 10:30 am https://www.news.com.au/finance/busines ... a5f9723f30 Can't imagine the stress for those who are building with PD or recently completed and dealing with defects. One of Victoria's biggest builders, for a while #3 behind Metricon and Simonds in VIC. This is also a consequence of the end of the Home Builder scheme and all the COVID money washing out, as well as material costs, fixed price contracts and interest rates. Home starts have fallen off a cliff recently so the cash flow from deposits has dried up. Very tough for the industry. Hopefully the liquidators can find another builder willing to take over PD projects. Re: Porter Davis in liquidation 2Mar 31, 2023 10:39 am There are many others just hanging on by a thread... to those impacted goodluck with the insurance Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Porter Davis in liquidation 3Mar 31, 2023 10:49 am Legendary https://www.news.com.au/finance/business/other-industries/major-home-builder-porter-davis-collapses-leaving-1700-projects-in-limbo-in-victoria-and-qld/news-story/b197461ec9b6b5f64e0977a5f9723f30 Can't imagine the stress for those who are building with PD or recently completed and dealing with defects. One of Victoria's biggest builders, for a while #3 behind Metricon and Simonds in VIC. This is also a consequence of the end of the Home Builder scheme and all the COVID money washing out, as well as material costs, fixed price contracts and interest rates. Home starts have fallen off a cliff recently so the cash flow from deposits has dried up. Very tough for the industry. Hopefully the liquidators can find another builder willing to take over PD projects. Sure is a big builder to go down. Give it a couple months, trades will be knocking on doors looking for work. New starts at a 10 year low and heading down further. Starting to wonder if I should still sign the contract to KDR or just pull out and wait. Re: Porter Davis in liquidation 4Mar 31, 2023 2:35 pm AJ1111 Legendary https://www.news.com.au/finance/business/other-industries/major-home-builder-porter-davis-collapses-leaving-1700-projects-in-limbo-in-victoria-and-qld/news-story/b197461ec9b6b5f64e0977a5f9723f30 Can't imagine the stress for those who are building with PD or recently completed and dealing with defects. One of Victoria's biggest builders, for a while #3 behind Metricon and Simonds in VIC. This is also a consequence of the end of the Home Builder scheme and all the COVID money washing out, as well as material costs, fixed price contracts and interest rates. Home starts have fallen off a cliff recently so the cash flow from deposits has dried up. Very tough for the industry. Hopefully the liquidators can find another builder willing to take over PD projects. Sure is a big builder to go down. Give it a couple months, trades will be knocking on doors looking for work. New starts at a 10 year low and heading down further. Starting to wonder if I should still sign the contract to KDR or just pull out and wait. Im wondering exactly the same thing. But i think there is at least a 12-15 month lag given the COVID backlog. Re: Porter Davis in liquidation 5Mar 31, 2023 3:03 pm Legendary Home starts have fallen off a cliff recently so the cash flow from deposits has dried up. That spells PONZI. 3in1 Supadiverta. Rainwater Harvesting Best Practice using syphonic drainage. Cleaner Neater Smarter Cheaper Supa Gutter Pumper. A low cost syphonic eaves gutter overflow solution. Re: Porter Davis in liquidation 8Apr 01, 2023 12:40 am They dressed their homes using Coco republic which is insane. Building a Madison 45 with Porter Davis Madison 45 Blog (Send me a PM with your email address to be added) Re: Porter Davis in liquidation 9Apr 01, 2023 8:04 am AJ1111 Legendary https://www.news.com.au/finance/business/other-industries/major-home-builder-porter-davis-collapses-leaving-1700-projects-in-limbo-in-victoria-and-qld/news-story/b197461ec9b6b5f64e0977a5f9723f30 Can't imagine the stress for those who are building with PD or recently completed and dealing with defects. One of Victoria's biggest builders, for a while #3 behind Metricon and Simonds in VIC. This is also a consequence of the end of the Home Builder scheme and all the COVID money washing out, as well as material costs, fixed price contracts and interest rates. Home starts have fallen off a cliff recently so the cash flow from deposits has dried up. Very tough for the industry. Hopefully the liquidators can find another builder willing to take over PD projects. Sure is a big builder to go down. Give it a couple months, trades will be knocking on doors looking for work. New starts at a 10 year low and heading down further. Starting to wonder if I should still sign the contract to KDR or just pull out and wait. I'm wondering the same thing... Theres alot of competition in my area for the size of house we want, lots of people bidding at auctions and prices outside our range. We could buy an old dilapidated but bigger block and KDRB for within our budget but now I'm not so sure. This has got me really spooked. Re: Porter Davis in liquidation 11Apr 01, 2023 5:12 pm This is terrible news. 1700 projects left unfinished! The Gov needs to step in. This industry cannot be left unregulated. Re: Porter Davis in liquidation 12Apr 01, 2023 7:26 pm Wed signed a contract and paid a deposit. Hopefully the insurance comes through, we're in a much better position than many. Definitely not a builder I thought would collapse. Re: Porter Davis in liquidation 13Apr 04, 2023 1:30 pm blackcat20 Wed signed a contract and paid a deposit. Hopefully the insurance comes through, we're in a much better position than many. Definitely not a builder I thought would collapse. News today suggests there's quite a few clients who PD didn't take out an insurance policy for. Did you get a copy? Re: Porter Davis in liquidation 14Apr 04, 2023 1:53 pm ponzutwo blackcat20 Wed signed a contract and paid a deposit. Hopefully the insurance comes through, we're in a much better position than many. Definitely not a builder I thought would collapse. News today suggests there's quite a few clients who PD didn't take out an insurance policy for. Did you get a copy? Not yet, I've requested the policy number from HIA but now I'm not feeling very confident. Re: Porter Davis in liquidation 15Apr 04, 2023 1:53 pm PDH aren't the only ones that delay signed contracts, use clients deposits for their own cashflow and then take out the insurance policies just before BA...that's if they don't go broke first Add those that are underinsured, because the builders didn't update the policy to include post contract variations... It's slippery slope...Can't help but feel for the Battlers being screwed. Where's the govt and Building commission response it should be interesting members should check their Insurance certificates... Nuf said Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Porter Davis in liquidation 16Apr 04, 2023 1:54 pm Gobsmacked though that they delay taking out insurance, its for our benefit not theirs. Re: Porter Davis in liquidation 17Apr 04, 2023 2:11 pm blackcat20 Gobsmacked though that they delay taking out insurance, its for our benefit not theirs. Yes. Hence the delay. Your benefit is not their priority. In a ponzi scheme, which most of these failed builders end up having been, rely on incoming deposits to fund existing work. The going is good while the money is coming in. Re: Porter Davis in liquidation 18Apr 04, 2023 2:48 pm Wow that is terrible about the insurance! I guess ideally proof of insurance should be provided prior to first deposit but I'd imagine they would refuse to be out of pocket in case you change your mind... Wasn't Elderton Homes gone late 2022, and since Millbrook was just a high end spin off, this is hardly a surprise. 1 3477 Good riddance if you ask me. They stole so much money from me and my husband for doing initial design plans. Thank god we found another local builder around Pagewood and… 6 10225 Hi, For those whose builder has gone into liquidation. I am trying to find out how the house is insured in the meantime (for the period before you employ a new… 0 2809 |