Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional), 5 x finance author.

'Huge fan of your work, very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Oz' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years & still learn new concepts from Pete; one of the finest commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate & most comprehensive analyst I follow in Oz' - Jon Tepper, Variant Perception, 2 x NYT bestseller.

Wednesday, 28 March 2018

Engineering construction turning a corner

Turn it up

There have been some incredible spikes and troughs in engineering construction in recent quarters.

These related to the import of LNG platforms in Western Australia, leading to wild spikes and reversals.

Looking through the noise at the trend figures it seems that the large pipeline of public infrastructure works in New South Wales and Victoria has finally arrested the downturn in engineering construction initiated by the resources construction cliff way back at the end of 2012. 

It's been a long half decade for Western Australia since the peak of the boom, but there were further positive signs for the state in these numbers with the trend now at long last rising again. 

The figures for work commenced are always much lumpier - as is the nature of these things - but these show that Queensland has got some chunky private sector projects underway now. 

One such example is the huge redevelopment underway at Brisbane Airport, but there are plenty of others.

Having already invested $1.6 billion in upgrades since 2012, Brisbane Airport Corporation (BAC) is now:

"...investing a further $2.2 billion building Brisbane’s New Runway, expanding the International Terminal, redeveloping the Domestic Terminal, constructing new aircraft aprons, building a new multi-storey car park...and developing a new Industrial Park and ground breaking BNE Auto Mall."

There's a fair amount of other works underway across Brisbane and Gold Coast too.