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Wednesday, 23 May 2018

Construction boom changes shape

Construction work shifts

Brisbane's apartment construction boom is now fading fast, with total construction work done falling by 33 per cent from the peak and further declines to come as the market rebalances.

Melbourne is keeping residential construction activity at elevated levels due to its sheer growth in headcount. 


Mining cliff been & gone

In positive news, the downdraft from the resources cliff is also now yesterday's news, with engineering construction work done 12 per cent higher than a year earlier in trend terms. 


This is brighter news for Western Australia, where engineering construction has now been trending higher for 6 months.

Queensland took its medicine earlier in this regard, and engineering work has been on the rise for 2 years. 

New South Wales continues to enjoy its infrastructure boom, with engineering work 21 per cent higher than a year earlier, and up by a thumping 45 per cent from the 2015 trough.

This is important stuff for the economy, with construction employment recently breaking record highs, both in absolute terms and as a share of the workforce.