Opportunities and threats ahead for South Australia, say new ACIF Forecasts
The next 12 months are shaping up to be critical in how the local building and construction industry copes with seismic global and domestic changes, the latest industry forecasts by the Australian Construction Industry Forum (ACIF) will show.
"The updated ACIF Forecasts are picking the big shifts of the last six months in work across the residential and non-residential building, and engineering construction sectors," said Peter Barda, Executive Director of the Australian Construction Industry Forum.
"There have been significant changes in the world and local economies since our April update was released," he said. "Events since then point to weakening demand."
"The big question is: how are these factors affecting demand for building and construction work? The ACIF Forecasts point to how these factors will affect order books amongst consultants, builders, and trade contractors, state by state." said Mr Barda.
"ACIF Forecasts, driven by the industry's own peak consultative body, are proving their worth again as a cost-effective and reliable planning tools for everyone in the industry, at a time of great stress," said Mr Barda.
The chart of engineering work done in South Australia shows that - despite the setback to Olympic Dam expansion - engineering construction remains the dominant sector in SA. As global ore and energy markets return to pre-GFC confidence levels the medium to long term forecast is solid.
How does this flow through to residential and non-residential demand over the next 2 to 5 years?
What types of engineering construction are most likely to happen, and where?
The updated ACIF Forecasts will answer these pressing questions when they are released at the ACIF Briefing breakfast to be held in Adelaide on Tuesday 9 October 2012. Register online at www.acif.com.au/events or download a registration form.
ACIF Forecasts for South Australia:
RESIDENTIAL: Short term prospects are poor, with demand set to return to pre-GFC levels well after 2014/15.
NON-RESIDENTIAL: Similar to residential, the present slump is unlikely to see a significant change until well into the next decade, with only some limited industrial investment a bright spot.
ENGINEERING: Notwithstanding the Olympic Dam setback, there is still strong demand in mining and related engineering over the next nine quarters, as well as telecommunications, pipelines and electricity.
THE BIG PICTURE – LONG TERM TRENDS:Engineering remains the dominant sector in SA. As global ore and energy markets return to pre-GFC confidence levels the medium to long term forecast is solid.
CHARTS AND DATA ARE AVAILABLE. MEDIA PASSES ARE AVAILABLE FOR ADELAIDE BRIEFING TUESDAY 9 OCTOBER.
Australian Construction Industry Forum (ACIF) is the meeting place for leaders of the construction industry in Australia. ACIF facilitates and supports an active dialogue between the key players in residential and non-residential building, and engineering construction, other industry groups, and government agencies.
ACIF Members are the most significant Associations in the industry, spanning the entire asset creation process from feasibility through design, cost planning, construction and building and management. ACIF harnesses the resources of its Members to research and develop initiatives that benefit businesses of all sizes, from the largest of construction companies to small consultancies.
ACIF’s Members are: Airconditioning and Mechanical Contractors Association, Association of Consulting Architects, Australian Constructors Association, Australian Institute of Architects, Australian Institute of Building, Australian Institute of Building Surveyors, Australian Institute of Quantity Surveyors, Consult Australia, Engineers Australia, Fire Protection Association, Housing Industry Association, Master Builders Australia, National Electrical and Communications Association, National Fire Industry Association, National Precast Concrete Association, Property Council of Australia.
Information about ACIF is available from www.acif.com.au.
About ACIF Forecasts
ACIF Forecasts are rolling ten year forecasts of demand across residential, non residential and engineering construction in Australia. The Forecasts are prepared by respected economic modellers and overseen by ACIF’s Construction Forecasting Council, an industry panel of expert analysts and researchers.
ACIF Forecasts are used by thousands of professionals each year, from across the full range of stakeholders, from major organisations to small consultancies. Updates to the ACIF Forecasts are released first at ACIF Briefings held around Australia in April and October. More information about ACIF Forecasts is available from www.acif.com.au/forecasts.
Peter Barda, Executive Director, Australian Construction Industry Forum
Phone: 1300 854 543, mobile: 0418 438 550, email: email@example.com
Pia Argiratos, Marketing Manager, Australian Construction Industry Forum
Mobile: 0405 144 314, email firstname.lastname@example.org