Construction Sector Set to Deliver Almost $257 Billion Worth of Opportunity in 2022/23

According to the latest forecast by the Australian Construction Industry Forum (ACIF), Australia is set to deliver close to $257 billion worth of construction opportunities in 2022/23.

The dollar value of work done on building and engineering construction throughout Australia is expected to increase by 2.8%. This means that the sector is expected to add 35,000 jobs during the calendar year of 2022.

Residential and engineering construction will lead the way, with the residential boom expected to continue for another 2 years. Engineering construction is expected to surge amid a huge range of upcoming transport projects and work on clean energy.

The Commonwealth State Governments have announced plans to invest and build in health, entertainment and recreation (including museums and galleries) in schools, as well as in transport buildings (stations and passenger terminals).

Despite this, the materials shortage and higher-prices labour is still putting extreme pressure on the industry and their timelines.