The HIA-Core Logic Construction 100 Report 2016/17 has revealed Australia's 100 biggest companies in the development and construction industry.
The report presents an in-depth analysis of the engineering construction, non-residential building, and apartment sectors and ranks the largest 100 players operating in these sectors.
Probuild was revealed as the nation’s most active construction company during 2016/17.
Lendlease held second spot on the Australian Construction Company 100 for the second year in a row with contracts totalling $5.3 billion awarded during the 2016/17 year, predominantly for civil engineering work, community construction projects and commercial construction.
Multiplex Construction Company ranked third with $5.14 billion worth of new contracts awarded.
John Holland and CPB Contractors benefited from the boost in public sector investment in transport infrastructure in the major capital cities and ranked fourth and fifth on the Australian Construction Companies 100 respectively.
The changing mix of work within the construction sector was evident amongst the activity of ranked firmed.
Victoria-based Probuild made the most of the apartment boom in Melbourne and Sydney as well as the demand for construction of mixed-used developments including luxury hotels to jump from fifth on the list last year to the top spot.
Levels of expenditure slowed for three consecutive years between 2014/15 and 2016/17, due to the scale of the mining project downturn in engineering construction.
The big news in the engineering sector was that in the second half of 2016/17, activity rose by 3.3 per cent compared with the first half of the year.
"Looking ahead we expect that the impending slowdown in apartment building will be offset by further growth in public sector investment in infrastructure," HIA said.
"Business confidence is also showing signs of improvement which is a signal that demand for construction from the private sector could also strengthen.
"This investment profile should ensure that the construction sector continues to be a significant driver of economic growth."