In ‘State Budget VIC – Construction Market Considerations’ Slattery provides an overview of the Victorian State Budget 2022/2023 and the onflow effect it will have on the wider industry

In our December Construction Market Update, ‘State of Play, Australia Wide’, Slattery provides an overview of how the construction market is responding to Government stimulus and the post pandemic construction boom.

Slattery provides an overview of the construction market including the volume of work nationally, the pain points across various states, labour and supply chain impacts, and what this means for cost escalation.

COVID-19 in NSW is causing a pause on construction and non- urgent maintenance works. A blow to builders and subcontractors who have started to recover from the last major lockdown and are beginning to see an increase in demand. The building and construction industry was considered an “essential-service” with building sites remaining open and largely unaffected by the recent lockdown. However, this is no longer the case with builders now focused on locking up and securing their sites.

The disruptive nature of the pandemic caused a sharp decline in construction activity in Victoria during 2020. Though the latest forecasts reveal that the Australian construction market has and will continue to recover in 2021. Slattery’s latest VIC Construction Market Update explores how margins are beginning to return to pre-pandemic levels, putting upward pressure on pricing.

The rising costs of labour are a crucial element when assessing construction costs. In our final market update of 2020, Slattery unpack the recent EBA negotiations in New South Wales; the implications for builders and developers of the affected projects and the potential pathway forward.