The construction sector is one of Australia’s largest employers of engineers, and a major driver of engineering activity. Employees in this sector are involved in the construction and improvement of residential properties and non-residential developments such as infrastructure or commercial buildings. Infrastructure has provided a significant source of demand over much of the past five years, however more recently residential construction has been the major driver of growth in the sector.
The diverse range of industries, businesses and individuals that employ construction services tends to reduce volatility in the sector, with weak demand from one group often met by stronger demand in others. The sector is also heavily reliant on favorable economic data, with property prices, business spending and interest rates all impacting demand for construction to various degrees. Australia’s current low interest rates and rising property prices are expected to encourage construction activity over the next five years.
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