Since late 2013, residential construction, and particularly, apartment construction, has been a major contributor to the Australian economy. With record numbers of dwellings approved and commenced during 2015, there was a major concern that a housing bubble was being created. The response was that lenders began to place tighter controls on their lending practices causing a slowdown in 2016 of residential building. Commercial construction was also on an upswing as a result of the revenue coming internally from mining and externally from Asian investors. As we enter 2017, there is a question about if Australia has sidestepped the bubble. And…
Construction Industry Trends for 2017
