The Paddington sits unfinished as construction company Armstrong Downes announces liquidation Photo: RNZ / Angus Dreaver
Liquidations within the construction sector are on the rise but industry experts says they're the tip of the iceberg.
A total of 92 companies in the building sector have gone into liquidation in the year to May 23, according to figures from the Ministry of Business, Innovation and Employment.
Data from the credit rating agency Centrix shows 27 percent of all liquidations in May 2022 were in the building sector.
Accounting & Advisory Firm BDO does an annual survey of the sector - last year's found 60 per cent of respondents were concerned about rising material costs, and the availability of important materials.
Over half had issues with finding skilled staff, and labour costs. BDO has delayed this year's survey til later in the year, but Partner and construction specialist James MacQueen says the signs are clear and there'll be significant changes in the sector through the winter. He speaks with Kathryn along with Executive Director of the Construction Industry Council, Graham Burke.
