MONTHLY TRUST ACCOUNT UPDATE – May 2024

Here’s a copy of what was sent to parties that are subscribed to our monthly trust account update. 

MAY Queensland trust account statistics

This month we saw a large increase in the number of PTAs opened – nearly double the April stats. There are still more State Government PTA projects than Private, but the Private sector projects are increasing more rapidly now.

 

Here’s a snapshot of the information published on the QBCC Trust Account Register.

As at 31 May 2024: 

  • –          Total of 1470 trust accounts currently open

    –          317 trustees (builders and developers that are managing an active trust account/s)

    –          41 new PTAs and 9 RTAs opened in May.

QBCC Trust Account Statistics May 2024

Who has the most PTAs?

  1. Hutchinsons with 115 PTAs

Then

  1. Kane Constructions (QLD) with 42
  2. McNab Developments (QLD) with 34
  3. Paynters with 33.

Do people have one or more RTAs?

The majority of builders have one RTA that they use across all of their PTA projects.

 

There are a few exceptions to this with McNab Developments (QLD) and McNab NQ, Bryant Building Contractors and Mosaic Construction all having a separate RTA for every PTA project.

Need further information?

Please reach out if you have any questions or feedback – or just want to talk trusts! 

Thanks kindly,

Laura and the Building Trusts team

Call 0481 194 000 or email [email protected]. 

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