Industry News, Latest News, Tasmania, Victoria

Construction stats for 2018 released

New data from the Australian Bureau of Statistics has found the total construction work done has fallen by 2.6 per cent in the December quarter of 2019.

The seasonally adjusted estimate for total construction work also fell by 3.1 per cent.

In Victoria, the value of construction work grew more than 15 per cent in 2018 to $54.5 billion, more than a quarter of the national total.

The value of engineering construction in Victoria also grew by 30.5 per cent in 2018, the highest growth in the nation, totalling more than $17 billion. The value of residential and non-residential building work done in Victoria increased by 9.1 per cent to $37.3 billion.

Victorian Treasurer Tim Pallas said the state’s economy continues to set the national pace, with its infrastructure pipeline playing a major role for the construction industry’s success.

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“We’ve more than doubled infrastructure investment to an average of $10.6 billion over the four years to 2021-22 compared to the long run average,” Pallas said.

In Tasmania, total construction work done grew by 20.1 per cent in 2018 compared with the same time in the previous year.

The state’s estimates of engineering construction work done are also up 14.1 per cent for 2018 in the December quarter.

Tasmanian Minister for Building and Construction Sarah Courtney said the sustained construction momentum reflects the strength of Tasmania’s construction industry, which is being supported by the Government’s $2.6 billion infrastructure investment plan.

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