Home builders are renegotiating contracts with customers as delays – particularly in the development of land earmarked for new housing – trigger sunset clauses and give builders the chance to claim back some of their escalating costs.
Metricon, the country’s largest home builder, on Wednesday said it was committed to fulfilling fixed-price contracts it entered into but had renegotiated the contracts of a “small proportion” of clients.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
