Home builders need deep pockets to survive downturn in Australia

According to The Australian Financial Review, NSW home builder Rawson, whose net loss nearly doubled to $28.9 million last year, is counting on the backing of parent company Daiwa to ride out a downturn that it says will take another six months for market confidence to return.
The state’s 10th-largest volume builder in the Housing Industry Association rankings – with 546 home starts in FY22, down from 770 a year earlier – also received a further $30 million injection from Daiwa House Australia last calendar year, on top of $40 million a year earlier.

https://www.afr.com/property/residential/home-builders-need-deep-pockets-to-survive-downturn-20230517-p5d97t