The September 2019 GDP figure reflects the impact of the slow-down in housing construction activity on the Australian economy.
Ai Group Head of Policy, Peter Burn, said: “Activity fell for the eleventh consecutive month across the Australian construction industry in August (2019). Activity declined in the residential sectors and in commercial and engineering construction. Apartment building led the way with another steep drop that extended the contraction in this sector into a 17th month. […]
“The need to fast-track the rollout of infrastructure projects has grown more urgent following the June quarter slump in engineering construction activity to be at its lowest level in a decade,” Shane Garrett, Chief Economist of Master Builders Australia said.
Forecasts released by Master Builders Australia suggest that the next few years will be a bit softer on the commercial building front.
There is no immediate end in sight to the new home building slump but a recovery is certainly on the horizon, according to forecasts released by Master Builders Australia.
The impending rollout of major government-led transport infrastructure will be good news for thousands of small construction businesses across Australia, according to newly-released forecasts from Master Builders Australia.
Construction crews onsite at Granville Harbour Wind Farm have successfully completed the first concrete pour for one of the site’s 31 wind turbine foundations.
The NT Department of Local Government, Housing and Community Development will be releasing a Request for Proposals for the construction of Social Housing Head Leased dwellings in Darwin and Tennant Creek.
The COAG meeting of state and territory leaders with the Prime Minister presents a golden opportunity to bring the VET sector back into the frame of Australia’s education system. Vocational education and trade training must receive the same recognition as other education pathways.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) fell by 3.9 points to 39.1 in July (2019), recording the construction industry’s steepest overall rate of contraction in six years (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease).