Victoria is in the middle of a construction boom. The latest forecast from the Australian Construction Industry Forum (ACIF) indicates the dollar value of work done on building and civil infrastructure construction throughout Victoria is expected to come in at $52.883 billion in 2017/2018 compared with $42.397 billion recorded as recently as 2013/14.
In the coming years, the ACIF expects building and construction activity to remain at or above the $52 billion mark.
The construction boom in Victoria can be attributed to strong population growth and a robust economy. In the year to September 2017, Victoria added a net of 147,400 people or 2.4 per cent to it’s population. That’s the fastest growing rate across Australia. Now is a good time to be working in the Building and Construction industry as Builders and Construction workers will have the massive task of building the infrastructure – the houses, apartments, offices, schools, shops, factories, hospitals and entertainment facilities to support these people.
Population growth is just one of several factors driving the state’s economy. All up Victoria’s economy expanded by 4.5 per cent across the calendar year of 2017. Over the past 2 years, 177,000 employees and self-employed workers have been added to the state’s payroll in both public and private sectors. Over the past year, Australian Bureau of Statistics (ABS) data indicates Victoria’s construction sector has added 44,100 people to it’s payroll from 264,100 workers over 3 months to February 2018 when the industry was made up of 308,200 workers.
According to the ACIF:
- The value of work in new detached houses will remain at elevated levels over the next two years before increasing to $11.604 billion in 2020/21. The value of work has already risen from $8.516 billion in 2013/14 to $10.679 billion in 2016/17.
- The value of work in units, apartments, townhouses and other forms of multi-residential housing has peaked and will now drop back to less than $7 billion in 2019/20, having already soared from $5.854 billion in 2012/13 to an expected $8.887 billion in 2017/18.
With the construction industry remaining a strong economic driver throughout the second half of 2018, there will be continued staffing demand vacancy activity according to Hays recruitment agency. The latest Hays Job Report for the Construction Industry, there is a demand for construction professionals at all levels. “All construction skills and in demand, from Site Forepersons to Project Engineers and Project Managers”. The Hays Job Report for Trades and Labour, also indicates there is strong demand for skilled Carpenters both Formwork Carpenters and Aluminium Carpenters, Concreters, Advanced Riggers, Steel Fixers and Glaziers, Electricians, Bricklayers and Blocklayers, Plumbers, Excavator Operators, Cabinet Makers and Joiners plus many more.
Seeing there is a strong increase in the number of workers in the Building and Construction industry and a high number of jobs in demand, it’s important that you have the right skills for the job. To develop your skills and knowledge in Building and Construction consider undertaking a Nationally Recognised Qualification whereby you can grow, develop and expand your skills. For more information on your study options check out the courses offered by Parker Brent.
Sources: Sourceable, Hays Job Report (Construction), Hays Job Report (Trades & Labour)
