Video: The future foundations of the building and trade industry in Australia
According to the most recent Australian Bureau of Statistics figures, 8.9 per cent of the 12.5 million employed people in Australia work in the building and construction sector, making it a strong contributor to the broader economy.
This year, total approvals jumped 17% to 19,851 in seasonally adjusted terms. This is more than three times higher than the 5 per cent increase predicted by economists, according to the Australian Bureau of Statistics figures.
Key infrastructure projects across the country have bolstered the construction sector. These include the Melbourne-Brisbane inland rail link, construction of a second airport for Sydney at Badgerys Creek, a Bruce Highway upgrade in Queensland, and a number of core projects in Victoria including a regional rail project and more.
Construction in NSW is particularly strong, with significant building and major infrastructure projects underway, such as the WestConnex, upgrades to the Princess Highway and Metro and Light Rail developments in Sydney.
And despite the fall in mining-related construction, a large number of major infrastructure projects have still been committed to, or are under construction in areas of the country where mining dominates.
Read full trend report here.
Three hospitality small business owners share their tips for making the most of the end-of-year season after the challenges of lockdown.View more
Commercial photographer Orlando Sydney shares how he’s preparing for end-of-year by tracking data to anticipate booking trends, finding new customers and more.View more
Kate Dillon shares how creating an Australian-made sweatshirt end-to-end with local small businesses, helped save her business and support the slow fashion movement.View more
Subscribe to the Prospa Blog
Be inspired! Sign up to Prospa’s newsletter to receive tips, tools and small business success stories straight to your inbox.