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Concrete In Australia : September 2013
12 Concrete in Australia Vol 39 No 3 NEWS Report points to industry challenges BIS Shrapnel has released a report outlining the challenges the construction industry faces due to the mining sector slowdown. e report, Building in Australia 2013 predicts that over the next two years, the construction industry will increasingly transition from the mining sector to both residential and non- residential buildings. So far the transition has been slower than predicted, especially given low interest rates, but BIS thinks this may change. Dr Kim Hawtrey, associate director with BIS Shrapnel said: "We see an upswing in building but it will be uneven and slower to get going than usual. e next 12 months will be a critical test of how quickly the construction sector can take on more of the heavy li ing, and the Australian economy will remain balanced on a knife edge." According to Hawtrey, the issues faced by people desiring to build are high household debt, concerns about the global economy, planning restrictions in some states and lack of land supply. e Building in Australia 2013 report predicts that residential building will show little overall growth in 2013/14, with gains in some areas matching losses in others. e following year, in 2014/15 is where the gains will probably occur. BIS claims an improvement in residential construction will be seen in New South Wales, Queensland and Western Australia, where population growth and stronger economies will see home building respond due to lower interest rates, solid economic growth and high rates of employment. However, Victoria and other southern states will see a contraction which will o set gains elsewhere. BIS claims this is an inevitable response following several record years of home building in Victoria. e BIS report predicts that the non-residential construction sector will again strengthen in 2013/14 as the private sector supports new projects. But that will turn into three years of falling growth from 2014/15 onwards, as a number of large hospital projects are completed. BIS claims this will occur as governments cut back on scal spending. A number of large private projects in o ce, and entertainment and recreation building will make up ground, but commercial and industrial building will record falls. e BIS report concludes that the total outlook for construction is a 3% growth in 2013/14 with a further gain in 2014/15. e sector will then stabilise in 2015/16, a er which construction is predicted to fall.