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industry. Public sector building and construction is strongly on the
rise – as the Construction Monitor portended a year ago would be
the case, driven by Victoria and New South Wales.
Within the unique geographical ranking of construction markets the
report provides, the Construction Monitor places Victoria and New
South Wales at the top of the league table. From a very low starting
point, South Australia and Tasmania sit in third and fourth spot
respectively, decent growth allowing them to pass the resource-rich
states as the latter inevitably slide down the ladder. Note that the
bi-annual HIA Housing Scorecard also places Victoria and New South
Wales at the top of the residential construction industry league
table.
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Our unique assessment of geographical and sectoral conditions in
the non-residential construction industry includes a strengthening
outlook for New South Wales and Tasmania. Headlines regarding
aggregate non-res construction activity tend to miss the
opportunities inherent in particular markets.
Speaking of missed opportunities, the focus on aggregate weakness
also misses areas of relative strength in certain sub-sectors of
the non-res construction industry. Our assessment in the ACI
Construction Monitor is that there is a strengthening outlook
for commercial construction in the areas of aged care buildings,
entertainment and recreation facilities, agricultural and aqua-cultural
buildings, and short term accommodation. Activity in the health
sector is set to regather momentum from 2017/18.
While our national assessment of engineering construction
conditions only places ‘roads, highways and subdivisions’ as a growth
subsector, that’s not the case for New South Wales, South Australia,
or Tasmania. For example, the category of ‘railways, bridges and
ports’ shows clear promise in some markets, including Tasmania.
Sometimes the ‘devil in the detail’ is a good devil and provides an
omen for future opportunity and activity.
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We have some way to go before national non-residential
construction work rises above the sharp drop the economy has
endured with regard to engineering construction activity, which rode
the resources boom so very hard.
These non-residential construction forecasts are available in the
Construction Monitor for Australia as a whole, but individual state and
territory forecasts are available upon request. On the housing front,
our headline forecasts for new home building and renovations activity
are available free on the HIA website – www.hia.com.au/Businessinfo/
economicinfo. A comprehensive range of more detailed forecasts,
including regional forecasts, are available on a subscription basis and offer
considerably better value than our competitors.
For further information, contact us at [email protected] or drop me a
line at [email protected]
For more information about the ACI Construction Monitor, go to
[email protected]
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crlaurence.com.au
P HONE: 1 800 424 275
FAX: 1 800 813 013
EMAIL : c rl_ a u @ c r la uren c e .com .au
JAB453_7/16
It is inaccurate, however, to presume there is no growth and little
opportunity. The latest ACI Construction Monitor signals that
there is considerable promise to focus on. This is reinforced by the
geographical and sectoral forecasts updated each quarter.
Windows Magazine Spring 2016 29