A recent survey by Master Builders Australia (MBA) indicates the
recovery of the commercial construction sector back to the highest level since
the Global Financial Crisis (GFC).
According to Master Builders Chief Economist Peter Jones, the National
Survey of Building and Construction shows commercial building has moved into
positive territory for the first time in five years since the GFC.
Observing that the survey showed improvement in the current business
conditions of commercial builders for the second consecutive quarter, he said the
index measuring expectations of future activity also rose sharply. A major
driver for the recovery is increased confidence in the prospects for commercial
construction with the evolving upturn in residential building.
MBA’s latest national survey of the building and construction industry shows
the transition to non-mining related investment in the economy is gaining
traction; however, the recovery in building activity needs to broaden across
all states and territories for the industry to sustainably underpin increased
GDP and jobs growth.