The builder stepping in to save Aussies’ new home dreams
Lucas Patterson started his building company intending to create bespoke homes, but his plans changed when he realised how many hopeful new home owners were in need of help.
With home construction costs at an all time high and margins for builders extremely thin, the country has been plagued with a raft of insolvencies in the residential sector over the past few years. And despite levelling prices, the spate of builders going bust has only seemed to intensify in 2024.
No part of the country has been spared, and Perth in particular was rocked only recently by the collapse of one of its best-known residential building companies, Collier Homes, which has been serving Western Australia’s capital since 1959. Several other smaller firms have gone into liquidation in Western Australia in the last few weeks as well.
In every instance of insolvency, customers with half-built homes have been left wondering how they now piece together their dream home.
It’s why Patterson, who intended to work on one-of-a-kind builds when he started Patterson Construction, has pivoted his focus to specialise in finishing off these half-built constructions.
“Seeing a family’s dream crumble midway is heartbreaking. Many come to us distraught, with their homes in limbo,” Patterson said of the emotional toll builder insolvencies are taking on consumers.
In his view, the new strategy isn’t too different from what he originally set out to do – Patterson always intended his business to serve the community by providing a niche product.
“Our mission has always been about more than just building houses. It’s about creating homes and fostering communities. Stepping in to help these families is not just our duty; it’s a privilege,” he explained.
So far, Patterson Construction has successfully completed dozens of homes that were left in various stages of completion. The firm employs a team experienced in crisis management, and has honed a specialty in handling the challenges presented by half-build structures.
Patterson also reported that the company is actively engaging with local suppliers and contractors to try to contribute to the stability and sustainability of the local construction ecosystem as a whole.
Jean Tan, a recent client who almost saw his hope of building a home vanish before his eyes, described Patterson and his team as “lifesavers”.
“Thanks to him, our home has almost been finished. The quality of his work has been fantastic. [We] can’t wait to move into our new home,” Tan commented.