Highlights

• As featured on the New Neighbourhoods TV series by OpenLot.com.au, using a free tool like the iCIRT register can help you vet trustworthy builders.
• iCIRT ratings provide transparency, helping you buy Australian property by verifying the trustworthiness of builders and developers.
• When buying off-the-plan, always check the iCIRT ratings of both the builder on your contract and the developer.
   

The exciting journey of buying a new home often begins with exploring land lots and display homes, but did you know the builder on the brochure may not be the same one on your contract? 

While the brochures advertise a developer or builder group, it is the company named in the contract that is legally responsible for the construction and any issues that may arise. This can make it challenging to buy property in Australia, as you might not know how trustworthy the actual builder is. 

New housing developments

This very topic was the focus of a recent episode of the NineLife TV series New Neighbourhoods by OpenLot.com.au, where hosts Walt and Emmylou asked: How do you know who owns the company behind a housing development? Are they financially fit? Have they been compliant with building regulations? 

As Walt pointed out, the entire process of putting down a deposit and picking out land can be filled with anxiety: "You hear of so many horror stories from dodgy builders to land developers, you know, going belly up,” he said. In the residential property market, where 53% of Australians surveyed¹ believe there aren't enough protections to safeguard them from construction companies going bust, having a trustworthy builder is of vital importance. This is where construction professional ratings can be your most powerful due diligence tool.

What are construction professional ratings?

“Smart people use this service called iCIRT so you don’t put yourself, your mortgage and all your life savings at risk”, said Walt. 

Developed by Equifax with input from industry and government,  iCIRT is a construction professional ratings tool designed to bring transparency to the residential construction industry. It’s a free service that provides property buyers and investors with a data-driven perspective on a company’s trustworthiness. 

According to Brad Walters, an iCIRT representative on the OpenLot TV show: "In essence, iCIRT is about providing transparency for both buyers and investors when they’re looking for a trustworthy building professional, someone that’s gone through a process of being able to demonstrate their capability and their credentials so that consumers can have greater peace of mind when they’re moving forward with new homes.”

The rating is based on an in-depth evaluation using thousands of data points across 150 key attributes:

• 20% relate to the business and its key people
• 20% cover operations, quality, safety and capability, including remediating defects
• 25% on court judgments, compliance and regulatory data
• 25% cover cash flow, capacity and financials
• 10% include related parties and third-party risk.

Brad explained the process further, saying it assesses: “past projects…in terms of the delivery, the assurance of quality built homes. It also looks at the people behind the business - what's their background, what's their experience, have they been honoring their obligations? It assesses their capability and credibility: have they got the right governance, the right quality assurance, the right oversight of those build projects.” 

The assessment even includes high level due diligence of the building company’s key trading partners, ensuring you can trust the entire build team. 

How to use iCIRT ratings to find trustworthy builders

New home buyers are increasingly using iCIRT ratings for their builder due diligence. A 2025 YouGov survey revealed nine in ten (89%) Australians agree that there should be an independent tool to help them compare construction professionals. Among those aware of iCIRT, 84% hold a positive perception of the construction industry, up from 76% the previous year. 

The great news is this crucial information is easy and free to access. Here’s how you can use the iCIRT Register to find a trustworthy professional:

1. Search the iCIRT Register: Start your new home buying journey by checking if the developer or builder is on the public iCIRT Register. This register only includes companies that have undergone the assessment, achieved a rating of three gold stars or higher and agreed to publicly share their rating. 
2. Verify the company name: Once you’ve found a rated company, cross-reference the name on the iCIRT Register with the name on your contract. This ensures you’re not dealing with a non-rated substitute.
3. Check the whole team: Check that both your builder and developer are iCIRT rated. If the builder goes under, you would be relying on the developer to pick up the pieces and see the project through. By verifying the developer also holds an iCIRT rating, you gain better peace of mind that your build team has the capacity to ensure the project is finished, even if it requires bringing in a new builder or fixing defects that might arise. 
    

For more information on how to navigate the Australian property market, download the new home buyer guide: Your Guide to Choosing an iCIRT Rated Construction Professional.

Catch our very own Brad Walters, GM, Commercial, talking about iCIRT on the New Neighbourhood TV series on 9Life and 9Now.

Useful reading:

How to Find Reliable Aussie Builders & Developers
Beyond the brochure: How to Vet a Builder Using an iCIRT rating
 

Disclaimer: The information provided in this article is intended for informational purposes only and should not be construed as financial advice. Readers are strongly advised to seek independent professional advice tailored to their specific circumstances and requirements.