Construction Industry Poised for Major Growth

Construction Industry Poised for Major Growth

 

Strong projected growth for the construction industry due to huge public spending on transport infrastructure projects and increased levels of private sector investment in commercial buildings.

 

Major project work is predicted to increase by 7.1% in 2017, with further increase of 6.8% in 2018-19

 

Australian Industry Group Chief Executive

Engineering construction is predicted to rise by 8.0% in 2017-18 with an additional increase of 10.6% in 2018-19 due to roll out of NBN and road and rail projects. The prediction has a positive effect in the construction sector: employees, contractors, and enterprises active in construction supply chains: mining, manufacturing, and service businesses.

 

Australian Constructors Association (ACA)

NSW and Victoria lead the metropolitan and regional construction infrastructure activities. The large infrastructure projects will support additional construction and commercial development ventures, delivering support to the whole construction industry

 

The robust line up of construction work in the next two years explains the strong growth projection in Commercial Construction, with 1.8% increase in 2016-17, an additional 9.4% in 2018-19.

 

Conditions for Multi-Level Apartments projects is also forecasted for extended growth as construction companies continue working on solid project backlogs. However, activities are set to decrease in 2018-19 by 15.4%.

 

Employment in major construction recovered by 3.1% in the year to July 2017

 

Resources-related engineering construction falls to 40% in 2017-18 and 53% in 2018-19 as huge LNG projects are completed. 

 

Businesses are reporting worsening labour shortages, increasing pressure from labour costs and sourcing of building materials in the six months to September 2017.

 

 

 

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