Australia’s forest and wood products sector has seen incredible growth over the last two years due to an increasing demand for local timber to meet housing demands in the major cities. The value of harvested logs has risen by over 10 per cent to over $2 billion dollars, primarily due to the number of housing commencement growing by over 18 per cent to 214,000 units, which has the industry cheering.
Consumption for softwood, sawn wood and wood based panels have been high, with the industry saying the timing was ideal as many of their trees have reached maturity, making it easy to fill the demand.
Queensland’s forest and wood product industry generated more than four billion dollars in 2015 and employed more than 12 thousand workers, due to demand increasing by over 22 per cent. The timber will primarily fill the unprecedented orders for housing in Brisbane and the Gold Coast.
The demand for housing up and down the eastern seaboard has lead to an upswing across several industries, including construction, engineering and interior design and is unlikely to slow down any time soon, which has seen the industry experience an upswing following fears of a downturn due to the end of the mining boom.
This has had a trickle on effect to the forest and wood product industry, who are excited to see their product contribute to more than 43,000 new houses and apartments in Queensland.
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