Beyond Bricks and Mortar: An Inside Look at Australia’s Thriving Construction Scene
By Michael Emerzidis
The construction sector in Australia has exhibited dynamic trends during the March 2023 quarter, as revealed by the latest data. In seasonally adjusted terms, the figures depict a mix of growth and contraction across various segments of the industry. Here’s a comprehensive breakdown of the key highlights from the recent data release:
The trend estimate for total construction work done displayed a positive trajectory, ascending by 1.9% in the March quarter. This upward trend reflects the underlying strength and resilience of the construction sector.
Building Work Done
The value of building work done demonstrated a decline of 1.1% in the March quarter, with the total reaching $30,620.7 million. This contraction was primarily attributed to a notable decrease of 2.0% in residential building work. In contrast, non-residential building work displayed a marginal growth of 0.3% during the quarter, contributing to a year-on-year increase of 2.2%.
Engineering work emerged as a standout performer during the March quarter, showcasing a remarkable increase of 5.3%. The value of engineering work done reached $27,065.8 million, underscoring the sector’s resilience and growth potential. Year-on-year data highlight an impressive growth rate of 14.9%, reinforcing its pivotal role in driving overall construction activity.
The geographic distribution of construction activity reveals variations across different states and territories. Notably, New South Wales, Victoria, and Queensland experienced growth in total construction work done. However, declines were recorded in other states and territories, with the most significant contractions observed in Western Australia and Tasmania.
The information presented in this article has been sourced from various reliable and reputable sources, including the Australian Bureau of Statistics (ABS). While every effort has been made to ensure the accuracy and reliability of the data provided, readers are advised that the content is intended for informational purposes only. The accuracy and completeness of the data are subject to the methodologies used by the data sources and the potential for revisions in statistical releases. Readers are encouraged to cross-reference the information with official reports, publications, and other credible sources for a comprehensive understanding of the subject matter. The author and publisher of this article do not assume any responsibility for the accuracy, completeness, or reliability of the information presented herein. Any actions taken based on the information in this article are at the readers’ own discretion, and the author and publisher shall not be held liable for any consequences arising from such actions.