Elise Archer,Minister for Building and Construction
While the challenges of coronavirus present uncertainty it’s also an opportunity not to lose sight of the positive outlooks for Tasmania, with the State’s building and construction sector a vital part of our ongoing growth.
Master Builders Australia’s Industry Forecast February 2020 (Tasmania), released today, indicates the strong state growth of recent years is set to continue in coming years.
According to the forecast, the total value of construction work is expected to expand significantly over the next two years, including expansion of 12.6% next financial year and, by 2021/2022, reach a total value of $3.98 billion.
In positive signs for the future, the forecast shows that the demand for new building work is strong, as the State continues to win more residents from the mainland.
Master Builders Tasmania has also largely credited Government-backed infrastructure and a nation-leading economy for an unprecedented pipeline of commercial and engineering construction projects.
This growth has Tasmania bucking the national trend and leading the way on many key state and territory indicators.
While we know these are challenging times, particularly around the impact of coronavirus, Tasmania’s building and construction sector is critical to the ongoing strength of our economy.
