The construction industry in NSW has been strong for quite some time now, but can we expect this to continue? At Brix Projects, we’re still as busy as ever and we believe it can. We’ve analysed the data and prepared a brief blog post to fill you in on what to expect in 2019. We hope you find this helpful.
With banks continuing to tighten their lending criteria, we are expected to see a decline in residential construction of around 4.8%. Many large projects have already reached or are nearing completion, but it is important to note that there are still around $4.8 billion worth of projects under construction around the Sydney CBD area. Whilst activity in the residential sector is starting to slow down, this should not be a cause for concern as there’s still plenty of work to go around.
According to Rider Levett Bucknall (RLB) International Report, we are likely to see continued growth within the commercial sector thanks to large scale infrastructure projects and office building around Sydney. Activity is expected to remain strong until at least 2021, so if you’re keen to work on major civil engineering projects including the light rail, Badgerys Creek airport, road and tunnel projects and more then we’d love to hear from you.
The Australian Government has invested heavily in the growth of Sydney and are committed to achieving their goals. For 2018/19, we can expect further growth in the civil engineering construction sector of around 13.4%.
Aged Care Development
It’s no secret that Australia has an aging population, and many new developments can be seen popping up around NSW. Aged care technologies have also advanced rapidly, and many facilities are now looking to renovate/update. BCI Economics has strong confidence for growth in this sector, which is great news for anyone interested in working on aged care projects.
Workloads by State
NSW and VIC are expected to have the biggest workloads, whilst QLD and WA are set to decline somewhat. Those living or willing to relocate to NSW are in a great position to find work.
Design consultants and contractors are struggling to find qualified candidates, and with increasing pressure to meet construction deadlines they are willing to pay above average rates. If you are a skilled labourer in need of work, chances are we have a suitable position waiting to be filled.
Whilst the downturn in residential construction will no doubt have a negative effect on employment, many workers will still be able to find work in the commercial and infrastructure sectors. From December 2018 through to June 2019, employment is expected to rise by approximately 4.4%.
Brix Projects – Your Partners in Success
The team at Brix are excited about the construction industry in 2019 and beyond, and we’re here to help you achieve at your best. Whether you’re a skilled labourer yourself or are a company in need of a few helping hands, please contact us today.