This article is from the Australian Property Journal archive
ANOTHER three home builders in New South Wales have fallen over, just a fortnight after the major collapse of Wincrest Homes.
Yesterday Kingstone Homes, Tsurami, and Pacific Blue Homes went under.
Kingstone Homes is now under an external administrator and currently has 33 homes under construction on the Central Coast. And Tsurami, which trades as Iconique Designer Homes, has been placed in liquidation with nine homes in the Hunter region.
Meanwhile the owner of Pacific Blue Homes has shut shop and walked away from the business.
A fortnight ago, Wincrest Homes collapsed leaving 100 homes unfinished and in May last year, Beechwood fell over owing $11 million and affecting 350 customers.
Australian Property Journal
