Dublin, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The "Australia Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Australia is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 5.6% during 2023-2027. The construction output in the country is expected to reach AUD 215.81 billion by 2027.
The Australian construction industry is facing the toughest conditions in decades, as the rate of insolvencies has surged significantly over the last 18 months. According to the Housing Industry Association, the construction market is facing one of the worst storms since the energy crisis in the mid-1970s. Factors including high demand, labor shortages, and material supply constraints due to the pandemic effect have resulted in higher construction costs and longer build times.
These factors have largely affected developers who had signed fixed-price contracts with buyers before the construction costs skyrocketed. Developers who sought to increase their volume of homes rapidly during the global pandemic outbreak have also been affected significantly in Australia. While the trend is projected to further continue in H2 2023 and Q1 2024, the publisher expects rising interest rates and borrowing costs to dampen the recovery prospects of the residential construction market.
The trend of builders collapsing in the Australian construction industry has continued in H2 2023
Over the last 12 to 18 months, hundreds of builders announced liquidation owing to the financial troubles faced due to rising construction costs and labor shortages. The trend has further carried on in H2 2023, with names like Wake Concepts and Residence Building Group announcing liquidation.
According to Residence Building Group, factors like the global pandemic, pressure of the HomeBuilder Program, inflation, and fixed price movement have resulted in the downfall of several smaller firms in the segment over the last few quarters. Millbrook Homes, in New South Wales, also entered into liquidation owing over A$4 million to nearly 80 creditors. Bentley Homes, the Victorian residential builder, also appointed liquidators four days after the insolvency proceedings announced by Millbrook Homes. The fall of Bentley Homes has left around 50 customers facing unfinished builds. Going forward, the publisher expects more such firms to enter into liquidation in Australia.
This market intelligence report provides a detailed view of market opportunities in the building and infrastructure construction industry at country level. With over 100+ KPIs, covering growth dynamics in building construction, infrastructure construction, construction cost structure analysis and analysis by key cities in Australia, this databook offering primarily provides data-centric analysis with charts and tables.
- Market Dynamics by Value, Volume, and No. of Units: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the building and infrastructure construction industry in Australia.
- Residential Construction Outlook: Provides market analysis by type of construction, development stage, price point, and key cities. KPIs include value, volume and number of units.
- Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
- Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, chemical & pharmaceutical buildings.
- Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants, educational buildings.
- Infrastructure Construction Outlook: Provides growth dynamics and market analysis by three key sections such as marine and inland, utility system and transport infrastructure construction.
- City Level Analysis: Provides outlook of top 10 cities in Australia by construction value.
- Construction Cost Structure Analysis: Provides outlook of different construction cost like material, labour, equipment, and others costs by construction value. At granular level, this module provides in detail material cost analysis by type of materials and labour cost by type of work by construction value.
Market Data and Insights:
This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2018-2027 in Australia.
KPIs covered include the following:
- Market size by value
- Market size by volume of construction
- Number of units
Australia Economic Indicators
Australia Top Cities Construction Data
Australia Residential Building Construction Coverage
- Housing type (multi family, single family)
- Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Price point/income level (luxury, mid-tier, affordable)
- Construction stage (new construction, re-development & maintenance)
Australia Residential Green Building Construction Coverage
- Green building by Housing type (multi family, single family)
- Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Green building by Price point/income level (luxury, mid-tier, affordable)
Australia Commercial Building Construction Coverage
- Office (further broken down by Grade A, Grade B, and Grade C)
- Retail (further broken down by Grade A, Grade B, and Grade C)
- Hospitality (further broken down by Grade A, Grade B, and Grade C)
- Restaurant (further broken down by Grade A, Grade B, and Grade C)
- Entertainment
- Sports facility
- Other commercial building construction
- Construction stage (new construction, re-development & maintenance)
Australia Commercial Green Building Construction Coverage
- Office green building construction
- Retail green building construction
- Hospitality green building construction
- Restaurant green building construction
- Entertainment green building construction
- Sports facility green building construction
- Other commercial green building construction
Australia Industrial Green Building Construction Coverage
- Manufacturing Plants building construction
- Chemical & Pharmaceutical building construction
- Metal & Material Processing building construction
- Construction stage (new construction, re-development & maintenance)
Australia Institutional Building Construction Coverage
- Healthcare construction
- Educational construction
- Other building construction
- Construction stage (new construction, re-development & maintenance)
Australia Institutional Green Building Construction Coverage
- Healthcare green building construction
- Educational green building construction
Australia Infrastructure Construction Sectors
- Marine and inland water infrastructure
- Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
- Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
- Construction stage (new construction, re-development & maintenance)
Australia Green Infrastructure Construction
Australia Construction Cost Structure Analysis
- Cost Analysis by Type (Material, Labour, Equipment, Others)
- By Material & Work Cost: It provides the cost outlook of material costs by type of materials used in construction (Cement, Steel, Sand, Aggregates, Bricks, Wood, Windows Glazing, Flooring, Plumbing, Electrical, Painting, Other Materials)
- By Labour Cost: It provides the cost outlook of labour costs (RCC Construction Work, Masonry and Plastering Work, Plumbing Work, Water Proofing Work, Carpentry Work, Electrical Work, Tile Fixing Work, CATV Antenna Points, Painting Work, Departmental Labour)
- By Type of Construction (New, Re-Development)
- By Material Cost: It provides the cost outlook of material costs by type of materials used in construction (Concreting Sand, Stone Aggregate, Ordinary Portland Cement, Reinforced Concrete (Grade 30 MPA), Reinforced Concrete (Grade 40 MPA), High Tensile Steel bars, Mild Steel Round Bars, Structural Steelwork, Plywood Formwork (1800*900*12mm), Clay Bricks)
- Type of Labour (Skilled Vs Unskilled)
For more information about this report visit https://www.researchandmarkets.com/r/jvly5j
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