Further good news has emerged for members of the construction industry in NSW with predictions expecting residential construction in the state to reach a seven year high in 2015.
According to Master Builders Australia’s Building and Construction Industry Forecasts the number of residential dwellings to commence construction in 2015 is expected to rise by 11 per cent. Master Builders says this will drive an increase of over 17 per cent in the value of residential building work done.
Master Builders Australia CEO Peter Jones says this will be the highest level in seven years for residential construction in the state.
Jones was recently quoted in a post on www.yourinvestmentpropertymag.com.au stating,
“The forecast highest levels of residential building in seven years will result in the value of the work done on detached housing and apartments rising by over 22% ($7.3 billion) and 12% ($6.7 billion) respectively this year.
“An increase in the value of work done on renovations is also forecast to rise by over 17% ($2.5 billion) over the same period,” he said.
Not only is this growth good news for the construction industry but also for those people interested in buying a home because in the past, due to an undersupply of housing in New South Wales prices have been inflated.
The Master Builders have also noticed a trend of new workers entering the construction industry- a phenomenon they say is indicative of strong levels of home building in New South Wales in particular.
The post also quoted figures by the ABS which indicate that the amount people employed in the sector has risen. The state of NSW is the largest employer in Oz. The post stated:
According to the ABS, during the three months to the end of November, around 1.054 million people were employed either full time or part time in Australia within the construction sector (seasonally adjusted) – up 6,600 from the previous three months and 58,700 from the same period the previous year.
New South Wales was the biggest employer, followed by Queensland, Victoria and Western Australia.
If you or someone you know is one of those people joining the industry during this season of expansion, you need to be aware of the requirements beforehand.
The first thing people need to consider is mandatory safety training – The White Card course. When seeking employment in this sector, whether as an apprentice or a skilled labourer, you will have to provide proof in the form of a White Card that you have completed construction induction training.
The course can be completed quickly and easily online and the accreditation gained is valid nationally. Find out more about the White Card course or online training here!