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Tue July 17 2018

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Australian construction activity rises

28 Jun The Australian state of Victoria has been experiencing record construction activity, with a jump of almost 50% in the past 12 months beating growth elsewhere in the country.

The state’s AU$14.7bn (£8.2bn) of work was reported in new national data. Record investment in Victoria saw engineering construction activity soar 48.7% over the year, and 19.2% across the March quarter – the highest in the country.

In comparison, the new figures from the Australian Bureau of Statistics show national activity increased by 13.7% over the year and 2.8% in the quarter, respectively.

Victoria’s boost in activity was primarily driven by the construction of bridges, railways and harbours, which increased by 69.3% in the March quarter and 165.1% over the year.

Construction of roads, highways and subdivisions also increased considerably – 33.6% in the March quarter and 60.2% over the year.

The total value of Victoria’s engineering construction activity was AU$14.7bn in the year to the March quarter – the highest value on record for the state.

Government infrastructure investment is forecast to average AU$10.1bn per year over the next four years. In the coming year alone, AU$78.9bn of state capital projects will start or be under way.

The state government’s infrastructure investment is expected to support the creation of more than 75,000 jobs. Treasurer Tim Pallas said: “Every time we build a school, dig a tunnel or open a hospital – it means jobs for Victorians. We’ll keep building to keep this jobs creation momentum going.

“More than 347,000 jobs have already been created since the Andrews Labor Government was elected. That’s almost a 12 per cent increase – more than anywhere else in Australia during the same time.”

 

MPU

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