Australia’s construction sector expanded last month
TPM Builders/blog/Builders are optimistic about the future of construction
There’s a focus on positive developments in the construction industry. A recent survey shows that builders are taking recent challenges in their stride… The nation’s builders have spoken, and it seems the industry is coping, despite some discouraging performance indicators of late. The Master Builders Survey of Building and Construction tracks industry sentiments over various business, economic and workforce indicators. This is reflected in their index, otherwise known as the BCMI. BCMI results for the latest quarter show that builder confidence has enjoyed a boost of 0.7 points on the index, thanks to a general loosening of skills shortage constraints. Optimism remains steady, despite the fact that survey respondents in the commercial sector have expressed ongoing concerns about how their projects will cope under the threat of looming industrial action. The survey shows that labour availability has loosened across all construction sectors, with all occupations covered in the survey showing index values of below 50. This could be a positive sign that the labour market is starting to catch up to the skills shortage that has plagued a number of occupations and locations across Australia for some time. In other positive news, crane numbers are on the rise in Sydney, Canberra, Adelaide, Perth and the Gold Coast. This is largely due to a boom in housing construction, which includes the construction of high-rise residential apartments. There’s been a 1.5-fold increase in total crane numbers across Australia, from 653 in March, which also reflected a high level of activity. This productivity is boosted by new commercial projects on the Gold Coast, including the expansion of Jupiter’s casino and the development of the Commonwealth Games Athletes Village.
