The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
LESS THAN 2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE JOIN MORE THAN 550 ALREADY ATTENDING
JUST 2 WEEKS TO GO UNTIL URBANITY-25 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterThu 04 May 17

Major Economic Report Shows Mitigated Mining Construction Slowdown

m

A 2017 Economic Forecast released by Consult Australia revealed that Government investment in infrastructure has helped to mitigate against the impact of stalled mining construction.

Figures in the report for engineering, architectural and surveying consultancy firms, showed that while the share of work relating to heavy industry dropped last year below the previous decade’s, average [42.7% to 40.9%] work on roads and highways increased [16.3% to 19.7%] softening the impact.

Consult Australia Chief Executive Megan Motto said continued increases in population, combined with a recognised need to transition from a resource-led to knowledge-based economy, has seen governments invest in ways to efficiently connect people and products to markets through infrastructure.

"This has led to a healthy pipeline of public sector projects which has in turn helped mitigate against the impact of mining construction slowdown and enabled our sector to contribute significantly towards Australia’s continued economic growth," she said.

The forecast produced by Australian Construction Insights covers domestic and international economic conditions, population dynamics, construction sector conditions and consulting industry forecasts up to 2021.

“With historically low bond rates and triple-A credit rating increasing access for governments to finance future projects, confidence is returning and our sector has an optimistic outlook in the short term," Ms Motto said.

The report included the following highlights:

  • The number of consulting firms in the built environment increased by 1.5% to 49 900 in the last 12 months of which consulting engineering makes up two thirds.

  • NSW is ranked first in the non-residential construction sector relative to its own long-term average.

  • Work done in the non-residential construction sector totalled $36.33 billion in the year prior to September 2016 with the short-term prospect for building activity strong in offices, factories, warehouses, agriculture / aquaculture, and short term accommodation.

  • The pipeline of engineering construction work yet to be done is $68.63 billion as at the end of 2016. The short-term prospect of building activity in this sector is strong in roads, highways and subdivisions; water storage and supply, sewerage and drainage; and recreation.

  • The pipeline of work yet to be done on projects that have already commenced on roads, highways and subdivisions is worth $18.81 billion at the end of 2016, some 66.3 per cent higher than 12 months earlier.

IndustrialAustraliaConstructionPolicyConstructionPolicy
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
Exclusive

Why Sentinel is Betting Big on Olympic City Office Sector

Phil Bartsch
5 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
View All >
Perth Glory Playbook: Ross Pelligra on Property and Sport
Community

Pelligra’s Playbook: Building Property, Sport Synergies

Renee McKeown
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
Zero to approved in 10 days: Developers are being offered a $1 introduction to the “largest reforms in NSW’s history”…
LATEST
Perth Glory Playbook: Ross Pelligra on Property and Sport
Community

Pelligra’s Playbook: Building Property, Sport Synergies

Renee McKeown
3 Min
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
5 Min
Inglewood Beaufort Street rendering front HERO
Residential

Apartment Scheme Revealed for Perth Heritage Strip

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/major-economic-report-shows-mitigated-mining-construction-slowdown