Hunter home owners hit by the Privium collapse are taking the fight to NSW Premier Dominic Perrottet

Would-be new home owners, Leesa and Nathan Whyte-Southcombe, are leading the charge, going through Maitland MP Jenny Atchison to push for a meeting with Mr Perrottet, as well as the Minister for Better Regulation and Innovation, Kevin Andrews.

"I need to take the fight on, I'm up for the fight," Ms Whyte-Southcombe said.

"I want to speak to the Premier face-to-face and ask him some serious questions about how we can change this system so it doesn't happen again. The Premier of NSW needs to understand that this situation is on par with the floods he visited last week, the damage and destruction left behind is massive."

Privium Homes and eight related entities were placed into voluntary administration by director Robert Harder on November 17, days after tradesman suddenly downed tools on worksites across the Hunter, as well as in Victoria and Queensland.

More than 1500 homes are now at a stand still, including scores of individuals, couples and families who have parted with deposits of up to $16,500 with no mandatory insurance attached.

They are now lining up behind a long list of unsecured creditors, along with those people whose homes will now cost more than 20 per cent over the original fixed price contract, thanks to soaring costs relating to materials, labour shortages, and a boom in construction.

There is 20 per cent limit on how much they can claim under a Home Building Compensation insurance policy, which will leave many tens of thousands of dollars out-of-pocket.

Ms Whyte-Southcombe said the Home Building Compensation Scheme, delivered in NSW by icare, was not set up to cater for the collapse of major companies like Privium.

"There has to be something put in place that covers more than 20 per cent and there has to be something put in place for tradies," she said.

Sara Conlan and her partner Troy Farquharson say they can't understand how construction industry insolvencies have been allowed to continue, crushing those who can least afford it. What was to be their dream home at Raymond Terrace is nothing but a concrete slab, and the couple is unable to continue the build with another builder until the administrators, FTI Consulting, determine the outcome.

"I've asked them to release us from the contract and sign over the plans for the house, and they've said no, we have to wait until they come to a decision," Ms Conlan said. "If the recommendations made to the government nine years ago were in place, none of this would have happened."

Ms Conlan has begun a petition and is encouraging subcontractors, home owners, and the community at large to lend their support.

FTI Consulting will release their initial report on December 14, ahead of a second meeting of creditors on December 22.

The state government has come under fire in the wake of Privium's collapse for failing to implement recommendations which came out of an independent inquiry into construction industry insolvencies in 2012.

The Collins review made 44 recommendations to improve protections for those impacted by construction industry insolvencies, key among them that money be held in trust so that the ripple effects can be contained.

At that time, ten of the recommendations were supported, 13 were not, and the others were given in-principle or qualified support.

A subsequent review prepared for the federal government by John Murray AM came to the same conclusion, recommending statutory trusts to offer subcontractors and home owners better protections.