The Half-Year Australian Construction Market View
Our Half-Year report explores key factors impacting the construction industry in Australia, including the rise of inflation and interest rates, material prices, current skills and labour shortages. While many factors impact the construction industry nationally, each state continues to face local challenges and opportunities.
Running on Empty
As hopes for a construction recovery emerged in early 2024, concerns about the industry's future have persisted. With anemic economic growth forecasts, high insolvency rates, and uncertainties in the forward pipeline, the construction market faces the prospect of running on empty for the remainder of the year. The sector grapples with challenges such as poor productivity, escalating costs, industry insolvencies, and reduced market capacity. To overcome these hurdles, industry stakeholders must embrace proactive solutions.
Our Half-Year Market View offers insights and recommendations from various sources to address key challenges and pave the way for a for a brighter future characterised by resilience, sustainability, and efficiency in the construction sector.
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