Posted: 29/07/2013 5:00:00 AM by Mining Oil and Gas Jobs
Filed under: Construction
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Construction professionals will be pleased to hear that the value of new construction projects in Australia has hit a record high. The Australian Bureau of Statistics revealed that between May 2012 and May 2013 there has been a 7.0% increase in the total number of dwelling units approved.
This was up 1.9% on the previous month and represented a 16th consecutive month of rising trend values, including seasonal fluctuations and discount outliers.
Further good news is that this is the first time the monthly trend value has ever broken the $7 billion barrier. This was helped by a rise of 7.2% in non-residential work in May.
Dwelling approval numbers increased in all areas except for the northern states of Queensland and Northern Territory, which saw declines of 0.5% and 4.9% respectively. It was no surprise that heavily populated New South Wales and Victoria saw dwelling approvals rise by 0.8% and 1.2% respectively.
Areas that saw the greatest increase in construction i
nclude the Australian Capital Territory, an increase of 4.1%, followed by Tasmania at 3.6%. Western Australian and South Australia had increases of 2.7% and 1.8% respectively.
This is good news for the construction labour market. A new labour market index launched by AMMA reported that construction labour requirements on Australia’s mining, energy and infrastructure projects alone will peak at nearly 100,000 workers in 2013. *********************************************
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