The surging construction industry has created numerous jobs in Australia, all of which help improve the economy. The recent construction boom was expected for a few different reasons, but now there are many questions about whether the work will continue or if a slowdown will occur. Did the Australian Construction Industry Boom in 2017?
At the end of June, statistics indicate a rise in construction work completed by 9.3 percent, which was much better than expected. This was good news for construction labour hire, as there were plenty of jobs available during this time. However, whether the construction projects keep coming in will depend on numerous factors.
Factors Affecting The Australian Construction Boom
When you look at the numbers and statistics, the construction boom in Australia is impressive. The reason why the June statistics were somewhat expected was because of poor weather conditions earlier in the year contributing to delayed projects. So the spike in construction work completed by June was a result of many projects not being completed in the previous quarter.
The overall view of construction projects in Australia is somewhat stabilised, with not many new projects breaking ground recently. This doesn’t mean there’s not a demand for quality construction labour hire anymore, but it does bring up the discussion of whether the construction trends will continue to increase in the near and distant future.
Commercial Construction vs. Residential Construction
When comparing 2016 to 2017 construction, there hasn’t been much change in both building and residential construction. In fact, commercial applications and apartment building approvals have been trending downward over the last several months. Again, this slight decline was expected due to the rapid boom over the past year.
Will The Construction Trends Continue?
The construction industry in Australia has been somewhat volatile in 2017, so it’s difficult to get a true read for what the trends actually are. However, any labour hire agency in Sydney or other cities in Australia expect there to be plenty of available jobs in Australia for years to come. The population will only continue to grow, meaning more buildings and residential properties will need to be built.
The Australian construction industry will be something to pay attention to for the remainder of 2017 in 2018. The need for construction labour hire is almost always critical, so contact us to see how we can help.