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ARTICLE · 11 SEPTEMBER 2024

September Update – VY's Annual Q&A Dinner – Construction In Crisis

Vincent Young
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Vincent Young recently hosted its inaugural dinner at the Australian Club, focusing on the pressing crisis facing the construction industry. The evening brought together a distinguished group of developers...

AustraliaReal Estate and Construction
Vincent Young
Vincent Young

SEPTEMBER UPDATE

VY's annual Q&A Dinner – Construction in Crisis

Vincent Young recently hosted its inaugural dinner at the Australian Club, focusing on the pressing crisis facing the construction industry. The evening brought together a distinguished group of developers, builders, subcontractors, financiers, and insolvency practitioners, each offering valuable perspectives on the sector's challenges. The gathering proved not only to be highly informative but also an exceptional opportunity for networking, marking a memorable and impactful evening.

The dinner focussed on the appalling statistics surrounding construction. On average, an Australian construction company has filed for bankruptcy every 24 hours over the last two years. Major construction companies like St Hilliers, PBS, Grocon, Porter Davis and ProBuild have all collapsed. There were significant concerns raised regarding the long-term sustainability of the construction sector and its capacity to

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