Labor leader Annastacia Palaszczuk’s surprise Queensland election win created
an environment of uncertainty for the state’s construction sector, but it seems to be bouncing back. Take a closer look at the key areas where the building sector is surging ahead.
Residential Housing: More New Homes Ahead
The home renovations market might have stalled, but it’s not all bad news for Queensland’s residential housing sector. Recent approval rates for new housing projects suggest more than 38,000 homes will soon be built across the state. The Housing Industry Association expects annual construction levels in Queensland will soon return to more than 40,000, where they should remain for some time to come.
Commercial Construction: Retail, Industrial, and Accommodation on the Up
There are mixed fortunes for the commercial construction sector. There’s little demand for new office buildings or healthcare facilities, but there should be several new opportunities in the retail, industrial, and accommodation industries.
Key projects like the construction of the Gold Coast’s cruise ship terminal, set to commence in October 2015, and the Etheridge Integrated Agricultural Project, slated for June 2016, will help boost this sector. Together, these projects have an estimated value of close to $7 billion.
Employment Levels: Uncertain Future for Building Workers
Low levels of building activity across the state have impacted the job market, and the Master Builders Survey doesn’t expect any improvement over the next 12 months. However, Ronan Mulry, director of Hays Construction, isn’t so pessimistic. He says several companies are preparing to launch construction works, and new employees will be required to meet the demand. According to Mulry, there’ll be more jobs for project managers, commercial administrators, and temporary workers in the building sectors.
Queensland’s building sector might have taken a hit, but commercial builders TPM Builders is still going strong. Contact us at 1300 733 891 to learn more about our comprehensive
design and construct services.
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