Fears over potential Metricon collapse ‘raise nerves’ within construction industry

Sky News business editor Ross Greenwood says fears that homebuilder Metricon is at risk of financial collapse “raise further nerves within the construction industry”.

“Given the fact that already this year, we’ve seen the collapse of ProBuild and another, Condev, in Queensland, both major construction companies,” Greenwood told Sky News presenter Peta Credlin.

He said the problems construction companies experience are “exactly the same.”

“And that’s where they’ve been on fixed-price contracts and then all of a sudden they’ve found themselves with significant cost increases, whether it’s wages or materials, or in fact there are delays.”

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