Industry forecasts by Australian Construction Industry Forum (ACIF) show that Queensland is one of several states where the overall trend across all building and construction work remains in a positive direction.
The ACIF forecasts suggests some areas of work will still need to get through some moderation in the short term, however the outlook for the next decade is upwards.
While the forum accepts some engineering construction in Queensland has peaked, they believe the decline still leaves the sector at a historically high level, even beyond 2022.
The ACIF have predicted the rate of growth in Queensland residential building work will outpace all other states, with forecast growth to be considerably higher than the aggregated Rest of Australia results.
While for most states of Australia, non residential building is forecast to remain flat for the next few years, Queensland is expected to enjoy sustained growth over the longer term.
“Reading past the headlines is crucial when planning for your business,” said Peter Barda, Executive Director of Australian Construction Industry Forum.
“Business leaders are making decisions that affect staff
and stakeholders. ACIF Forecasts give them high quality
information draw from reliable data sources, ‘reality tested’
by our Construction Forecasting Council of industry professionals across financing, construction, government, property management and more.”
