Residential housing is one of the biggest areas seeing growth across Australia, as domestic demand for builders and tradespeople makes up for faltering mining construction.
Because of an influx of building projects in early 2014, the residential construction industry in Queensland and The Northern Territory is remaining buoyant, according to a recent report from BCI Australia.
The report suggested that growth in Queensland’s construction industry will stay strong through 2014 and 2015. This financial year alone has seen a 15 per cent increase on the previous year.
If projected growth continues, Queensland’s building sector can expect to reach $8 billion by the end of the 2014 – 2015 financial year.
With such strong demand for residential construction, there will likely be greater pressure on trades people in the state whose skills are needed to support these projects. If you are considering an apprenticeship in Queensland, now might be a good time to further investigate this option, so that you can contribute to this planned building activity.
Brisbane housing moving up
While residential growth is strong across the country, Brisbane is witnessing many of these changes, with demand for apartments rapidly altering the look of the city centre and surrounding suburbs.
According to a recent report from Urbis Market Research, 45 new apartment complexes will have been completed across the city by the end of the year. These developments will bring 5,500 new residences onto the property market.
Jon Rivera, the associate director of Urbis, suggested that the popularity of apartments is changing the face of housing across Australia.
“I think apartments in terms of Australia are going to play a major part of our residential landscape moving forward,” said Mr Rivera. “This is a new cycle for our market that we haven’t seen before.”
Other new projects in Brisbane, like the redevelopment of Queens Wharf and the accompanying Bus and Train tunnel in the city centre, are also increasing the appeal of urban living for both new home buyers and those looking to downsize.
With further completions staggered over the next few years, there will be plenty of employment opportunities in the construction sector for those looking to get into this exciting industry.
By Leanne de Toerkenczy, Public Relations Coordinator