Chat with us, powered by LiveChat

Your at-a-glance view of the construction industry’s year ahead

February 8, 2019

+ 118,800 JOBS

Against a backdrop of the lowest unemployment rates since 2012, the construction industry is responsible for employing 8.9 per cent of Australian workers.
In the five years from 2014 to 2019 it’s estimated that the construction industry has created 137,900 jobs.
This is expected to continue to 2023, creating an additional 118,800 jobs in the coming years.

NEW HOME BUILDING

Population growth drives the building of new homes, and this has peaked in the past couple of years. While this boom is levelling out, it’s remaining healthy.

New home commencements:

2019/20: 197,500

APARTMENT BUILDING

New apartments arose from an increased demand in high-rise living, and this will cool off considerably over the coming years.

New apartment commencements:

2019/20: 88,000

NON RESIDENTAL CONSTRUCTION

 

The construction of non-residential buildings gathered momentum over the past few years and continues to do so. Non-residential construction falls into three categories worth billions of dollars each:

 

COMMERCIAL

INDUSTRIAL

OTHER NON-RESIDENTAL

2017/18: $14.9 billion
2018/19: $17 billion

2019/20: $17 billion

2017/18: $5.2 billion
2018/19: $6.7 billion

2019/20: $5.7 billion

2017/18: $21.1 billion
2018/19: $24.5 billion

2019/20: $23.7 billion

 

 

ENGINEERING CONSTRUCTION

While some areas of engineering construction could see a downturn, this is assisted by a boost in the form of the Government’s $75 billion Infrastructure Investment Program.

2017/18: $105.5 billion

2018/19: $88.3 billion

2019/20: $92 billion

$75B
INVESTMENT

Source: Building and Construction Industry Forecasts, Master Builders Australia, 2019
Employment Outlook to November 2019, Australian Government, Department of Employment, 2019