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Construction growth in Australia's regions set to outstrip capital cities
Macromonitor has just published detailed data for all regions of Australia - available to purchase by state, by individual region or nationally
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This note provides a summary from Macromonitor's new, detailed building and construction data and forecasts by Australia's regions. For more details, visit the State and Regional Construction Forecasts page on our web site.
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Construction activity in Australia’s regional areas, driven mainly by renewable energy projects, is expected to grow twice as much as activity in the capital cities over the next two years. Macromonitor is forecasting an increase of $23 billion in work done (or 19%) in regional areas between 2024/25 and 2026/27, compared with an increase of $12 billion (or 7%) in the capital cities. These figures are in constant 2022/23 prices, so the increases will be greater in actual dollars including inflation.
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The explosion of wind, solar, pumped hydro, energy storage and transmission will be the main factor supercharging construction activity in Australia's regions over the next two years.
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Other key drivers in the regions will be house building, roads, railways and minerals. Gas investment will also be a key driver in selected areas, such as North-West Western Australia and Central Queensland.
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Renewable energy is Australia’s biggest growth area for construction, and projects are generally located outside capital cities, with new energy storage, transmission and other infrastructure also required in the new areas.
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Macromonitor expects strong residential building demand in the regional areas, due to improved affordability relative to capital cities, falls in interest rates, and as the boom in migration is directed, in part, to the regions.
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Road and rail construction in the regions is also expected rise significantly over the next two years, with some major regional rail projects set to begin, including the Inland Rail project and connections to the Sunshine Coast and Gold Coast in Queensland.
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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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