DESIGN & CONSTRUCT
Can Civil Engineering stay ahead of the competition and lead the way to victory?
Australia is currently at a cross roads in terms of its construction industry. The key to continued economic growth and the creation of new jobs could be just around the corner, according to the latest quarterly Market Movement Report by Cordell Information. The report represents a snapshot of the current state of active construction projects within Australia.
A national increase in new construction projects of 9% was reported in the 3rd quarter of 2015 compared to the same period in 2014. This increase equated to 477 new projects nationally across the following categories: Civil Engineering; Commercial; Community; Flats and Units; Industrial and mining.
Conversely, Civil Engineering projects within the Northern Territory came out on top compared to the same period last year. The increase was predominantly down to prospective construction projects, previously in the pipeline, coming into fruition.
Civil Engineering activity will continue into 2016/17 and potentially lead the construction industry over the next few years, with projects such as Sydney's Second Harbour Rail Crossing, the Capital Metro Light Rail Project in the ACT and the Perth Freight Link. These will form Western Australia's largest road infrastructure project to date.Finally, the report supported a recent Government announcement by inferring the success of rebuilding Australia is primarily dependant on continued economic and social infrastructure investment.
Commonwealth creates thousands of new jobs.
The Australian Government has made commitments of up to $50 billion for current and future construction investments, of which $43.9 billion has been allocated to the Infrastructure Investment Programme.The investment is part of the Government's economic strategy plan, which aims to boost economic growth, increase productivity and support thousands of new jobs.
Media statements from the Prime Minister and Deputy Prime Minister highlighted the importance of prioritising infrastructure investment to ensure a successful Commonwealth games. Critically, Prime Minister Turnbull has also pledged federal support, by committing $95 million towards stage 2 of the Gold Coast Light Rail.
Prime Minister Turnbull said “This project is vital for the Commonwealth Games transport task. It connects five competition venues and nine events to accommodation and public transport interchanges.”Deputy Premier Jackie Trad also commented that “Light Rail has become the backbone of the public transport network and Stage 1 has driven a 25% increase in public transport patronage on the Gold Coast in the first year alone.”
The Gold Coast Light Rail project is just one example of the many lucrative projects going ahead.In real terms the combined investment will facilitate geographical mobility and in turn stimulate growth in the housing market; increasing the population within the suburbs and enabling transport hubs to thrive in the future.This huge expansion will also encourage foreign investment, boost tourism for the whole country and cement the Gold Coast as Australia's number one fun destination!
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