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AUSTRALIAN CONSTRUCTION INDUSTRY HITS 12-YEAR HIGH

11/08/2017
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Figures from the Australian Performance of Construction Index (Australian PCI) for July 2017 indicate that the country’s construction industry has experienced the strongest acceleration of growth since 2005.

Australian construction boom

All four construction sub-sectors expanded in July, with house building and commercial construction being the major drivers of growth. More robust conditions were experienced in the engineering construction and apartment building sub-sectors. In addition, growth in new orders and activity accelerated throughout July to rates amongst the strongest in the survey’s 12-year history.

The index also held good news for workers, with increasing employment and wage growth also continuing throughout July.

Commenting on the results of the index, Peter Burn, Head of Policy at the Australian Industry Group, said:

“The national construction industry has continued its strong run with infrastructure work, a resurgent commercial construction sub-sector and ongoing healthy levels of activity in residential building combining to more than offset the further wind-down of mining-related work. The buoyancy of the sector is evident in strong levels of current activity and employment growth and order books. The long-awaited pick-up in commercial construction seen over the past three months is particularly welcome in light of the anticipated wind-down in apartment building from the very high recent levels and suggests that the national construction industry will continue to play a leading role in the economy for some time to come.”

Australian construction boom

Referring specifically to the healthy state of residential construction, Principal Economist of the Housing Industry Association, Tim Reardon said:

“The ongoing boom in apartment construction in metro areas, combined with investment in infrastructure projects, is ensuring strong conditions across the sector. The housing industry has been cooling from record highs in 2016 but there remains a significant amount of work in the pipeline.”

Supporting Australia’s Infrastructure & Construction industry
The story above testifies that Australia’s Infrastructure & Construction industry is booming. As we’ve written elsewhere, Fircroft Australia has restructured specifically to cater to the needs of clients, contractors and candidates in this industry. To find out how Fircroft can help you make the most of the construction boom, speak to us today.

 
Recent Comments
Nice post! You gave a good overview of the rapid growth. We at Geniebelt have also discussed a similar topic of the Australian Construction. Feel free to check it out and leave some comments. https://www.linkedin.com/in/rebeka-nagyova-12a784a8/
Rebeka, 18 October 2017
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