Homeowners impacted by the collapse of builder Quattro are meeting tonight to discuss how their half-built homes could be completed. It comes as one property owner revealed he was asked to make significant payment, just days before the company went into liquidation.
Category
📺
TVTranscript
00:00 Rick Brooke doesn't know when his Port Adelaide home will be completed.
00:05 Look, from my point of view, it's devastating.
00:08 You know, it was an emotional couple of days.
00:10 Mr Brooke is one of more than 200 homeowners impacted by the collapse of Quattro built this week.
00:15 He expects insurance, backed by the government, will provide him up to $150,000 in cover.
00:21 But with some of the work on his home needing to be redone, it's unlikely to cover his costs.
00:26 The one thing I am really disappointed about is that I was made to make a payment last week,
00:32 you know, which was a significant payment.
00:35 Quattro collapsed, owing creditors at least $4.5 million.
00:40 Coming in the aftermath of the failure of several other builders and suppliers, it's feared more may be on the brink.
00:47 Unfortunately, there's probably a matter of time before maybe, you know, another one or two, you know, don't make it.
00:53 The building industry and state government, though, believe the worst is over.
00:57 A lot of these are historical problems where there was a significant increase in supply and lack of labour and fixed price contracts.
01:04 But discussions are underway to see what improvements can be made to protect consumers and prevent similar building collapses.
01:11 Us and others and Consumer Business Services and the government will be speaking together on how we can perhaps do something in that space.
01:19 The hope for Rick and other homeowners here is that once their insurance claims have been completed,
01:24 other builders already on site will be able to step in and complete their properties.
01:30 There is a lot of good builders, there's a lot of good trades.
01:32 Unfortunately, you know, we're a victim in this particular project, but look, hopefully there's some learning from this.
01:40 Mr Brook will meet with the developers and fellow homeowners tonight to discuss a potential way forward.
01:46 forward.
01:46 [BLANK_AUDIO]