Melbourne Apartment Construction Booming

According to Sourceable.net, a leading construction industry website, Melbourne is going through a boom in the apartment construction sector, based on the number of building approvals.

The nationwide boom in the housing construction sector doesn’t seem to be slowing any time soon and in Melbourne apartment starts in particular are on the rise. This is good news for builders, developers as well as anyone employed by the construction sector because it means sustained work for the next few years or as long as the boom holds out.

However people already engaged in construction work aren’t the only ones to benefit from the upturn in activity. Even those people still grappling with the idea of what career to embark on or whether or not to enter the construction should take this as an encouraging sign. Employment figures in the industry are up and skilled workers in this sector are able to be more choosy about what they want and demand from their employers.

According to the article on Sourceable.net, on a seasonally adjusted basis, the number of new houses and apartments approved for construction, rose by 7.5 per cent to come in at 18,245 – a record high figure.

The following excerpt from the article explains that Victoria is the leader when it comes to apartment construction starts,

Victoria led the way as a 38 percent surge in multi-residential approvals from an already high base saw overall approval numbers (seasonally adjusted) jump by almost 20 percent in that state.

Having defied expectations of a pull-back in activity amid significant volumes of new stock hitting the market following high levels of building activity in recent years, the state’s capital of Melbourne is experiencing a boom in apartment building that shows no sign of abating.

Last month, for instance, Central Equity appointed Brookfield Multiplex to build its $135 million Australis Melbourne Apartments tower including 46 storeys of one, two and three bedrooms encased by a glass façade on Little Lonsdale Street.

– See more at: http://sourceable.net

Experts predict that strong levels of construction activity will last for at least several years, which is further good news for members of the industry.

Shane Garret, Housing Industry Association Senior Economist said of the sustained growth,

 “Residential construction was the economy’s good news story during 2014, and today’s figures indicate that we can look forward to another positive year for the industry,” Garrett said.

“With weaknesses in several areas of the Australian economy, new home building has come to life at an opportune time.”

 “I think there are a few different things going on,” he said. “The interest rate situation is one of them, but you can’t ignore the fact that prices in Victoria and Melbourne in particular have been rising so strongly in the past year and a half. That’s definitely encouraging people to develop land and build more units.”

See more at: http://sourceable.net

If the growth in the industry has enticed you or someone you know to seek work in this industry, you need to first become eligible by completing the mandatory safety training. The White Card course which can be completed online, is a pass onto a construction site in Oz, without which workers aren’t only going into a high risk environment uneducated, but also breaking the law by doing so. The White Card is federally mandated by the Australian government.

Posted by Construction Safety News Admin
line
footer
Powered by WordPress | Designed by Elegant Themes