Story one of ten today, about five minutes for the lot

Multi-story residential building under construction with exposed framework and concrete elements.

Property giant Bathla collapses with $3.4 billion debt in western Sydney

Bathla Group is a major developer in western Sydney. It went into voluntary administration with $3.4 billion in debt. Home buyers and workers have little recourse.

Why it mattersHome buyers lose their savings. Construction workers lose their wages. The property market faces new uncertainty. Housing conditions are already tight.

AustraliaThousands of Australians-buyers, construction workers and suppliers in western Sydney-face immediate financial loss from the collapse.

Corroborated bytheage.com.au·watoday.com.au

✓ Claims checked against the source and corrected before publish. checked 5 d ago

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Aerial view of modern suburban homes with varied architecture along a residential street

✓ ABC NewsMoney & Work

Sydney and Melbourne luxury homes slide past 10 per cent from peak

Top-tier homes fell more than 10.7 per cent in Sydney and more than 10.5 per cent in Melbourne; low-priced properties held steady.

Why it mattersProperty investors and high-end sellers are bearing the brunt; tight affordability and investor caution could weigh on the broader market.