Builder confidence rides high
Builder confidence rides high
Posted on Wednesday, January 22 2014 at 4:28 PM
A survey by Master Builders Australia shows a strong rise in builder confidence during the December quarter.
Peter
Jones, chief economist at Master Builders Australia, says the results telegraph
good news for the industry this year.
“Building
activity looks set to rebound in 2014 on the back of a revival in sentiment
that comes after an extended downturn.”
Jones
says the building industry is set to take up the slack from any mining downturn
in the coming year.
“The
turnaround in the industry outlook, particularly for residential building, is
encouraging for a wider economy grappling with below trend growth, a soft
labour market and concern over the gap left behind as resources investment
unwinds.”
He
says the results support recent Australian Bureau of Statistics data indicating
housing is in recovery and set to boost the economy into the future.
“The
latest survey results add weight to Master Builders Australia’s forecast for
residential building to improve strongly over the next three years, with the
number of dwelling starts predicted to draw near to 200,000 in 2016.”
The
survey showed builders were starting to gain confidence in the non-residential
sector as well, and there is a rise in the backlog of work in the industry.
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