Opportunities and threats ahead for Victoria, 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) 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, ACIF Executive Director.

"There have been significant changes in the world and local economies since our last update in April," 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 the affect these factors will have on order the books of 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 tool for everyone in the industry, at a time of great stress," said Mr Barda.

With the decade long boom in residential building at an end, and no major resource projects to drive engineering, the focus will be on whether the non-residential sector is able to come out of its GFC-induced slump and generate more projects and jobs.

When and where is residential and non-residential demand coming from over the next 2 to 5 years? Where is the private sector most likely to invest – office, retail, industrial?

The updated ACIF Forecasts will answer these pressing questions and released at the ACIF Briefing breakfast to be held in Melbourne on Thursday 11 October 2012. Register online at www.acif.com.au/events or download a registration form.

ACIF Forecasts for Victoria:

RESIDENTIAL: The apartment boom is fast coming to an end, and overall demand in the sector is retreating.

NON-RESIDENTIAL This sector is forecast to decline in real terms overall over the short to medium term, with the exception of industrial where there is solid growth in the short term.

ENGINEERING: Flat across all parts of the sector in nominal terms, declining in real terms.

THE BIG PICTURE – LONG TERM TRENDS:With the decade long boom in residential at an end, and no major resource projects to drive engineering, the focus will be on whether the non-residential sector is able to come out of its GFC-induced slump and generate more projects and jobs.

ENDS

 Charts and data are available. Media passes to ACIF Briefing on 11 October are available.

About ACIF

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.

Contact:

Peter Barda, Executive Director, Australian Construction Industry Forum
Phone: 1300 854 543, mobile: 0418 438 550, email: ceo@acif.com.au

Pia Argiratos, Marketing Manager, Australian Construction Industry Forum
Mobile: 0405 144 314, email pia@acif.com.au

More information and resources for media are available at www.acif.com.au/news/media.

website: www.acif.com.au