The Australian Construction Industry Forum (ACIF) latest Construction Market Report for the Northern Territory shows positive growth for all sectors over the short-medium term.
While many regions will experience varying outlooks across residential, non residential building and engineering construction work, the report from ACIF revealed the Northern Territory has enjoyed a sustained period of strong demand in engineering construction.
While the peak has been crossed, the rate of work will remain at historically high levels over a long period and is expected to have a bump-on effect for other sectors too.
“Construction staff and others working in mining, infrastructure and other engineering projects increase the demand for other building work. These businesses and their staff need housing, health services, entertainment, retail therapy, all of which benefits the region and the local building and construction industry,” said Peter Barda, Executive Director for Australian Construction Industry Forum (ACIF).
“ACIF’s Construction Market Report shows that the Northern Territory will enjoy heightened demand across all sectors for much of the next decade, and when it does fall back it is too levels that are still good amounts of work for the industry,” he said.
“ACIF Forecasts give business
leaders reliable information upon
which to make big decisions. We
draw data from reliable data
sources, then ‘reality test’ it
under scrutiny of our
Construction Forecasting
Council, made of industry
professionals across financing, construction, government, property management and more,” added Mr Barda.
