A Business Update from our Director

Carlisle Homes continues to be a leading home builder, and we were pleased to reassure our current and future customers with the below update following recent news coverage, and the liquidation of Porter Davis Homes.

We were all saddened by the news about one of our industry peers in Porter Davis. On behalf of the entire Carlisle team, our thoughts go out to their customers, staff, trades and supply partners.

While the news will create some uncertainty for our industry, I want to stress that the Carlisle Homes Group is in one of the strongest – if not the strongest – financial positions of all home builders in Australia.

Carlisle Homes was established in 2004, is 100% Australian owned, has completed over 15,000 homes and has traded profitably every year since 2009. Those profits have been reinvested back into the business and I note that Carlisle has had zero bank debt for over 5 years now. Furthermore, we enjoy the confidence of our trades and suppliers. All Carlisle trades are paid weekly and our suppliers are paid in accordance with our agreed terms.

The VMIA who provide Home Owners Warranty Insurance, reviewed Carlisle Homes' financial position in December 2022 and increased our insured value of residential construction by $150,000,000 on the back of our strong financial position.

As well as having no bank debt, we own all of our 79 display homes outright, which is the largest display home network in Metropolitan Melbourne.

We have continually invested in our business, our people and our customer experience. We were only recently recognised as the 28th Greatest Place to Work in Australia, we are the current HIA Most Professional Major Builder in Victoria and the Master Builders National Best Large Residential Builder.

In 2022, we opened the doors to our new Spectra Colour Selection Centre which is the largest of its kind in Australia at 2,500m² and along with our stunning new offices, we are well set up to continue to successfully deliver quality homes along with our award-winning service levels.

Knowing the concern around our industry right now, I’m looking to employ additional staff with the view that we all need to provide an even higher level of service to our customers. We have also been inundated by calls from suppliers and trades, many of whom we will employ as early as today. This will result in increased on-site activity as trades and suppliers associated with Porter Davis Homes are making themselves available to supply and work for Carlisle.

I want to reassure all our customers that Carlisle Homes are a proven dynamic, profitable and successful business that has the financial strength to adapt to all market conditions. For us today, next week, next month and next year are “business-as-usual” and our customers are truly in the safest hands.

Regards,

John Doulgeridis

Managing Director

Carlisle Homes