Australian Property Investor Magazine reported in May 2016 that Master Builders Australia CEO Wilhelm Harnisch saw the Budget this fiscal year to benefit tradies and new home builders.
Australia has a $200 billion building industry and Mr Harnisch was quoted at saying:
“This Budget should act to underpin a boost in building industry confidence, through targeted growth measures and a credible budget repair strategy to take Australia into the next decade. “The various Budget measures will allow the building industry to play a positive role in the re-balancing of the economy. “It will boost confidence and should bring forward economic activity, investment, growth and jobs in the building industry.”
A new report from WT Partnership has shown that strength in the construction sector continues to be improving. When competing for tenders in the dynamic Australian construction industry, those companies that have shown a willingness to innovate and push the envelope are likely to attract the best people and projects. The issue for many construction companies, however, is finding the right areas to innovate.
New South Wales and Queensland in particular are looking at a 5 per cent and 4.5 per cent growth respectively. This is bolstered by an increasing activity and level of sentiment in the multi-billion dollar investment plan from the federal government. Tender price escalation across the nation is forecast to improve.