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More growth in non-residential construction activity.



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MEDIA RELEASE

 

The Hon. John Moore, MP

Minister for Industry, Science & Tourism

 

Wednesday 19 August 1998

291/98

 

More Growth In Non-Residential Construction Activity

 

The Minister for Industry, Science and Tourism, John Moore, today said that the lates t report of the Construction Forecasting Committee indicates that Australia’s non-residential construction sector is in a strong position.

 

“The value of non-residential construction activity in Australia rose by 7% in 1996-97 and further growth is expected,” said Mr Moore.

 

“Privately-funded infrastructure projects are underpinning growth in the industry. The office sector is recovering in Sydney with other cities reporting concentrated activity on office conversions and refurbishments.”

 

Major road and rail links in Sydney, and road projects in Melbourne are also providing an increasing share of new work.”

 

“Activity in Sydney continues to rise due to Olympic Games related work and complementary developments timed for completion prior to the Games.”

 

The report estimates 6% growth in the non-residential sector in 1997-98 and 5% in 1998-99.

 

“Events in Asia have had an effect on the outlook for some clients of the construction industry, however the volume of work currently underway is at an all time high,” said Mr Moore.

 

“With the commencement of new projects, overall construction activity is expected to remain at record levels over the next two years.

 

The Construction Forecasting Committee consists of representatives from industry organisations and Government.

 

Contact:

Chris Wordsworth - Media Adviser - 02 62777580   0419 982482

Fax: 02 62734104

Email: word@dist.gov.au    Web site: http://www.dist.gov.au

 

CMR1258

 

 

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