Due to a strong construction activity in August, a spider cherry picker or other heavy-lifting boom access equipment seems to be in constant use across different parts of Australia.
The construction activity during the month banked on an estimated $21.7 billion of projects that entered the pipeline in July, according to CoreLogic. As projects abound, building industry suppliers believe that construction standards should be freely available.
Monitor Lifts explains that civil engineering and commercial projects comprised the top two busiest segments in the construction sector in several states. In New South Wales, the state government’s 8.2-hectare Ivanhoe Estate added to the mix of projects in the pipeline. The $2.2 billion urban transformation project will provide more than 3,000 new residential properties, comprising 950 new social and 128 low-cost homes.
The Australian Capital Territory also awarded a similar project that requires the development of a 1.17-hectare mixed-use site. In Queensland, the state government’s construction pipeline includes a $250 million North Queensland Stadium development. These projects across the country helped in offsetting a continually declining number of mining projects.
CoreLogic’s Cordell Construction Monthly data showed that there were more than 2,300 projects worth around $17.5 billion in August. Civil engineering took the biggest share at 35 per cent, followed by 12 per cent of commercial projects. Industrial and mining projects accounted for the least number of work with 7 per cent and 5 per cent, respectively.
Whilst civil engineering projects accounted for the lion’s share of work, the segment only had the third highest median project value at $500,000. Commercial projects had the highest at $1 million, followed by community projects at $750,000.
The current status of Australia’s construction sector will be beneficial to the economy. It likewise means more people will be employed due to the eventual need for more skilled labourers.