{"id":11137,"date":"2018-04-26T12:10:14","date_gmt":"2018-04-26T02:10:14","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/?p=11137"},"modified":"2018-04-26T12:10:14","modified_gmt":"2018-04-26T02:10:14","slug":"commercial-construction-sector-experiences-best-year-in-a-decade","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/real-estate\/commercial-construction-sector-experiences-best-year-in-a-decade\/","title":{"rendered":"Commercial construction sector experiences best year in a decade"},"content":{"rendered":"

CAPTION: This year is shaping up to be the best year for commercial builders for more than a decade, with Torquay being no exception.<\/strong><\/p>\n

MASTER Builders Australia says the vital contribution that the building and construction\u00a0sector makes to a stronger economy in every city, town and region around the country has\u00a0been confirmed by the most recent release of ABS building activity data .<\/p>\n

Master Builders Australia CEO Denita Wawn said that the data shows the nation\u2019s second largest industry ended last year strongly, with the value of work done growing by 8 per cent in the last quarter of 2017 and contributing more than $28 billion to the national economy.<\/p>\n

\u201cThat\u2019s $28 billion that is creating employment, providing young people with the skills they\u00a0need to be job ready and build rewarding careers and it\u2019s supporting more than 360,000 small building businesses that build prosperity in every community,\u201d Ms Wawn said.<\/p>\n

\u201cThe value of work for new residential construction fell by 5.4 per cent in the quarter,\u00a0supporting an outlook for a more moderate year for new residential construction in 2018.\u00a0\u201cHowever, this fall was more than offset by a surge in the non-residential sector which saw\u00a0new commercial construction activity grow by 14.8 per cent in the December quarter\u00a02017.<\/p>\n

\u201cThis very positive result for non-residential construction supports Master Builders\u2019 outlook\u00a0for a boom in non-residential building activity over the next 12 months,\u201d Ms Wawn said.\u00a0\u201c2018 is shaping up to be the best year for commercial builders for more than a decade with the total commercial construction activity expected to contribute $42 billion to the economy
\nin 2017-18, with the sector expected to grow by 14.6%.<\/p>\n

\u201cThe timing couldn\u2019t be better with the expected moderation expected in the value of\u00a0residential construction work and another year of consolidation in the engineering sector.\u00a0\u201cBetter yet, the new commercial construction projects driving the upswing create new jobs\u00a0and opportunities for workers whose work on major high density residential projects may\u00a0be finishing over the next 12 months or so,\u201d Ms Wawn concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

CAPTION: This year is shaping up to be the best year for commercial builders for more than a decade, with Torquay being no exception. MASTER Builders Australia says the vital contribution that the building and construction\u00a0sector makes to a stronger economy in every city, town and region around the country has\u00a0been confirmed by the most […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":26,"featured_media":11134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"post_folder":[],"class_list":["post-11137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nCommercial construction sector experiences best year in a decade - Surf Coast Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/real-estate\/commercial-construction-sector-experiences-best-year-in-a-decade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial construction sector experiences best year in a decade - Surf Coast Times\" \/>\n<meta property=\"og:description\" content=\"CAPTION: This year is shaping up to be the best year for commercial builders for more than a decade, with Torquay being no exception. 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