"There will be no ability for Today's Homes to trade through this. At best, we will be taking a project by project approach," voluntary administrator, Eddie Senatore of Deloittes Restructuring Services, told Fairfax.

"I have a duty to investigate any transaction associated with the directors and parties related to the directors and the company and a separate team is focusing on investigations into director-related transactions. There are signs emerging there is a case to answer for insolvent trading."

The award-winning building company's imminent collapse has come as the worst possible Christmas present for clients who currently have up to 17 new homes under construction around the ACT.

It did not come as a complete surprise with one man, who did not want to be named, saying he became suspicious when work on his site stopped abruptly three weeks ago.

"We heard something was about to happen, informally from one of the tradies who had been working on our job, last Wednesday. We weren't contacted by the administrator until this week."

Have you been affected by Today's Homes' collapse? Email david.ellery@canberratimes.com.au

Owners are banding together to present a common front and will be meeting over the next few days to review their position.

Early concerns about insurance cover on the building projects, which ceased as soon as Today's Homes went into administration, appear to have been addressed by Deloittes taking out an interim policy providing personal injury and property damage cover of up to $20 million over the 17 incomplete homes through QBE.

Home owners are already being threatened by disgruntled contractors with the forcible removal of windows and kitchens if they don't pay the outstanding amounts.

"It [Today's Homes] is fundamentally in breach with its terms with us and accordingly we are now taking steps permitted under our contract to retake possession of the good[s] and materials which belong to us," the manager of one Fyshwick joinery company said in a letter to affected clients."

A subcontractor, who is owed more than $13,000, said he did not expect work to resume on any of the sites for months.

"Nobody will go back to these jobs until they get paid what they are owed," he said. "Nobody else is likely to start work on the sites unless they get paid up front."

Other Canberra builders, including Twenty20's Brendan Howe, are already being approached by prospective Today's Homes clients who had not yet signed contracts.

"I feel for the people caught out by the collapse of the company and would like to help them," Mr Howe, who lost more than $20,000 as a small contractor when Metro Homes collapsed in 2012, said.

"While I realise they can't engage a new builder until they are released from their current contracts, my advice would be for them to seek a quote on the cost of finishing their homes as soon as possible.

"Quotes obtained in the new year will likely be more expensive because of rapidly escalating labour and materials costs."

Mr Howe said Canberra building costs were soaring due to rising land prices and the shortage of trades.

"Our experience at Throsby indicates the market has topped out or, if not, is very close to it," he said.

"We planned to buy 10 blocks but when they started going at $100,000 over reserve we ended up with five. The bank did not want to lend on them because it considered the prices as overheated and not justifiable."

He said the cost of trades was being driven up by the resurgence in construction in Sydney and Melbourne.

"Brickies rates have risen from a dollar a brick to $1.40 a brick since January," he said.