There are rising issues that the development disaster engulfing WA may declare one other high-profile sufferer.
Brickworks, Australia’s greatest brick maker, has revealed it misplaced a whopping $32 million in WA and is now contemplating exiting the State in a “Brick-xit”.
This newest blow to the trade comes after a number of constructing corporations — together with Probuild, Pindan, Jaxon Development, Agency Development, Hamlen Properties and New Sensation Properties — folded in latest months blaming points together with the hovering value of supplies and scarce labor.
“Contemplating 90 per cent of latest homes in WA are constructed with brick, a Brick-xit by Brickworks might be a giant downside for WA’s housing market,” says Grafa’s Sarah Hughan on the most recent episode of The West Australian‘s finance present Trading Up.
May this be one other brick within the fall of a as soon as flourishing trade? Let’s hope not.
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