A new survey by Master Builders Australia (MBA) indicates that the confidence of the building and construction industry is holding steady in the post Federal Budget period.

According to Master Builders Australia’s National Survey of Building and Construction for the June quarter 2014, building activity continues to gain strength on the back of improved confidence in residential building, which is the highest it has been for six years.

Wilhelm Harnisch, CEO of Master Builders Australia explains that the survey’s key indicators show a good pipeline of work underpins current confidence levels and supports Master Builders’ forecast that total dwelling commencements will exceed 200,000 by 2017. The strong upturn in residential building is positively impacting commercial construction.

Wilhelm Harnisch notes that the returning confidence in the commercial construction sector has consolidated with the June quarter survey, which shows a rise in confidence for the second consecutive quarter.

Wilhelm Harnisch adds that the slight easing of business confidence post the Federal Budget highlights the underlying vulnerability of the recovery in building and construction and the need for the Federal Government to implement its Budget repair strategy with the responsible support of the new Senate.