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Infrastructure boom faltering amidst still rising costs and capacity issues
New Transport Infrastructure Construction report now available
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2024 is seeing a pause in infrastructure construction growth in Australia, as costs continue rising, capacity issues are prevalent, and some major projects are completed.
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The chart below shows historical data and our forecasts for total transport infrastructure construction in Australia.
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We regularly provide clients with detailed cost escalation forecasts covering all types of construction projects, with data specific to each Australian State as well as New Zealand. And we have just completed a full revision of these forecasts, incorporating the final data for FY2024.
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While the rate of cost inflation is still trending down, it remains higher than the long-term average. And this rate of increase is happening from a base of already very high costs, following the acceleration of inflation in 2021 and 2022.
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While costs and capacity issues are bearing down on the infrastructure sector, some of the weakness in 2024, in selected states, is due to the completion of major projects which were previoulsy contributing substantially to activity. Refer to our report for more details.
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The chart below provides a high level summary of key projects.
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If your organisation requires help with construction cost escalation forecasting, or construction activity forecasts, please get in touch at info@macromonitor.com.au.
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Our most recent reports:
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Australian Construction Cost Trends
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This report examines the outlook for construction costs, in detail be sector and type of input.
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Australian Construction Projects Database
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This latest list of projects corresponds with our fully revised set of forecasts published in November 2023.
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Australian Regional Construction Outlook
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Our latest regional forecasts for residential building and construction have just been released.
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Australian Construction Materials Forecasts
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Our latest forecasts assess the implications for construction materials demand of the current outlook for building and construction.
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Australian Road and Bridge Works
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This report examines the strength and composition of the current upturn, and determines the likely timing of the peak, and subsequent decline.
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