+ 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:
New apartments arose from an increased demand in high-rise living, and this will cool off considerably over the coming years.
New apartment commencements:
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:
2017/18: $14.9 billion
2019/20: $17 billion
2017/18: $5.2 billion
2019/20: $5.7 billion
2017/18: $21.1 billion
2019/20: $23.7 billion
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