Builders future looks good!

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The construction industry experienced a second month of growth in July, with growth in all sectors except engineering. This is great news if you are a Builder.

The Australian Industry Group and Housing Industry Association Australia Performance of Construction Index has shown that there was a second month of growth in July. This has been driven by commercial construction experiencing its' highest level of growth in 6 and a half years. House construction had already been experiencing good growth for close to 12 months.

The only sector to not experience growth was the engineering construction. This is a direct result of the slowing down of construction in the mining sector.

The AI Group Director of Policy Peter Burn said; "While house building has been strong for some time and apartment building is at healthy levels, the broadening of growth to include commercial construction is a welcome addition to the mix."

Some of the Key Findings

  • The Performance of Construction Index grew for the second consecutive month in July.
  • Growth was recorded in House Building, Apartments and Commercial Construction.
  • Commercial construction hit a 61/2 year high.
  • Engineering construction fell into contraction.
  • Construction employment grew for the first time in 8 months.

You can find out more here.

Are you ready to take advantage of the Building Growth?

As a registered Builder, one of the key requirements for your licence is that you have adequate Builders Insurance; not to mention for your own peace of mind. So let us help you, find out more about Builders Insurance.