VIC Major Projects Conference 2019

27-28 November 2019
Melbourne Convention & Exhibition Centre
Melbourne, VIC, Australia

Victorian construction industry sees 9.8% spike in activity

Posted On August 25, 2016

Recent figures have shown that Victoria has seen a 9.8% ($986 million) spike in construction activity since June 2016.

This is in stark contrast to nationwide figures, with the industry across the nation falling by 10.6%. Western Australia fell by 39.5% despite its vast resources, with Queensland and Tasmania falling by 6% and 4.2% respectively.

The growth comes due to an increase in detached residential housing and engineering construction, thanks in large to the state’s population growth and a strong commitment from the Andrew’s Labor Government in infrastructure investment.

The latest figures from the Australian Bureau of Statistics show that Victoria has now recorded 4 successive quarterly increases, with a major surge of momentum in the June quarter sparking major construction growth, with the industry up by 5.2%. The previous quarter ending in March saw a relatively minor increase of 1.4%.

These figures however are more impressive when you take into account that nationally there was a 3.7% drop for the quarter.

Treasurer Tim Pallas was understandably pleased with these figures, stating that “These figures reaffirm the demand across the state for commercial, public, and residential infrastructure to cater for Victoria’s increasing popularity as Australia’s destination state and the place to do business.”

The growth in the construction industry has been consistent with the growth in other key economic areas, such as job growth and consumer and business confidence. 

 

 

Source: Victorian Government

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27-28 November 2019

Melbourne Convention & Exhibition Centre
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