Australian construction industry on the road to recovery26 July 2011
The Australian construction industry is on the road to recovery after a poor performance in 2008 and 2009, aided by government stimulus and increased private sector spending.
The recovery of the Australian construction industry started in 2010 with the announcement of stimulus packages and is expected to continue in the coming years. To 2015, the industry is expected to record a CAGR of 6%. The Building Education Revolution (BER) scheme, under which the Australian government is expected to invest AUD17.5 billion ($16 billion), proved to be a major boost to the industry.
In addition, the high population growth rate currently being witnessed in Australia is also expected to spur demand for residential construction. The residential construction market is expected to record a CAGR of 4.8% to 2015.
For an Australian construction firm like Leighton, the period of recovery could provide the firm with an uninterrupted flow of work over the next few years. Infrastructure and retail construction projects, sectors that Leighton is active in, are expected to witness decent growth rates that could prove advantageous for Leighton and other Australian construction firms.
Detailed analysis of the Australian construction industry and SWOT analysis of major Australian construction firms can be found in the report The Future of Construction in Australia to 2015: Government’s AUD45.8 Billion Stimulus Package to Increase Social Construction Projects published by World Market Intelligence (WMI). WMI is a premium information and marketing solution company focused on providing high quality information and software solutions to drive business success.
To access the complete report, please visit our premium subscription Construction Intelligence Center product,www.worldmarketintelligence.com/ic/construction