Australian Construction Outlook – Overview

The construction industry is on the verge of another upturn, following three years of decline. We expect a 13% rise (in real terms) in total construction work done over the next two years (FY2022 and FY2023). Total activity should then remain similar, or edge slightly higher, through to FY2025, prior to the next decline.

A house building boom is leading the way, with rapid growth being driven by the Federal HomeBuilder scheme, other state government incentives and sustained low interest rates (in work done terms the peak will be in FY2022, although leading indicators have already started to turn down)

This report provides a concise explanation of the outlook for the various segments of building and construction. It provides a fully revised set of forecasts for all segments of building and construction looking ahead ten years.