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
"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.
Charts and data are available. Media passes to ACIF Briefing on 11 October are available.
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.
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
1300 854 543, mobile: 0418 438 550, email: firstname.lastname@example.org
Pia Argiratos, Marketing Manager, Australian Construction Industry Forum
Mobile: 0405 144 314, email email@example.com
More information and resources for media are available at www.acif.com.au/news/media.