“Master Builders is forecasting another year of solid growth in the value of building work done in 2015/16, providing further impetus to the growth in the Australian economy,” Peter Jones, Chief Economist of Master Builders Australia said.
The latest construction activity data for the June quarter show that current the residential building upturn has further to run and that claims to the contrary are jumping the gun.
Much better than expected dwelling commencements of 211, 500 occurred in 2014/15 and Master Builders forecast another plus 200,000 starts in 2015/16.
ABS forward indicators and of housing finance and building approvals project a solid pipeline of work for residential builders over the next two years and and real growth of two and half per cent in residential construction in 2015/16 is expected.
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