Building and construction in Australian Capital Territory will be mainly held up by large projects in non residential building and engineering construction, show industry forecasts by Australian Construction Industry Forum (ACIF).
The flow of work across these sectors tends to be uncertain due to its reliance upon project work, however the ACIF expects a medium term outlook of modest growth after an initial period of increased activity.
The chart below shows the relatively strong outlook for the ACT non residential sector.
“Businesses in this state in particular need to have an ear to the ground, know what is coming and the surety or vulnerability of project work, to be able to steer their staff and resources in profitable directions,” said Executive Director of ACIF, Peter Barda.
ACIF Construction Market Reports are developed from data generated by the ACIF Forecasts, industry forecasts built on reliable indicators of demand, and the input of experts on the Construction Forecasting Council.
“ACIF Forecasts show that Australian Capital Territory builders and constructors will need to choose their work type and location to suit mainly projects. Residential building will remain soft for the remaining of our rolling ten year forecasting outlook,” said Mr Barda.
