What downturn? The Brisbane construction industry is booming thanks to the upcoming Olympics and a number of other infrastructure projects.
There is a lot of discussion about slowdowns in the construction industry in Australia, but Brisbane seems to be the exception to the rule.
The city has its sights firmly set on the 2032 Olympics and this event is partially responsible for a building boom. Stadiums, accommodation and a number of other projects are keeping the industry active for the foreseeable future.
Take a look at what else is happening to keep construction going strong.
What’s going on with Queensland construction?
The Queensland 2023–24 Budget announced record investment in infrastructure in Brisbane and elsewhere in the state.
Outside of projects for the Olympics and Paralympics, funds will go towards the construction of new roads and transitways, educational facilities and hospitals.
Some highlights of the state’s $88.729 billion ‘Big Build’ program include:
To add to this, Gold Coast City Council is investing in infrastructure projects to facilitate better transport, stormwater management, water supply/sewage treatment, public parks and land for community facilities. There is also the ongoing Brisbane Metro project, which will soon see passengers riding on ‘trackless trams’ across two new lines that connect 18 stations. All these works will require thousands of hours of manpower, plus the support of a range of manufacturers, contractors and suppliers (Australian Tanks included).
- $983 million Fitzroy to Gladstone water pipeline, to deliver water security to the Gladstone region and support current and future industries
- Boosting the QuickStarts Queensland program target by 500 homes, to increase the pipeline to 3,265 social housing commencements by 30 June 2025
- $1.451 billion for the construction and refurbishment of school education facilities and early childhood education and care services
- The Venues Infrastructure Program, which includes:
- The Brisbane Arena ($2.5 billion)
- The Gabba Redevelopment ($2.7 billion)
- 16 new or upgraded venues ($1.9 billion)
To add to this, Gold Coast City Council is investing in infrastructure projects to facilitate better transport, stormwater management, water supply/sewage treatment, public parks and land for community facilities. There is also the ongoing Brisbane Metro project, which will soon see passengers riding on ‘trackless trams’ across two new lines that connect 18 stations. All these works will require thousands of hours of manpower, plus the support of a range of manufacturers, contractors and suppliers (Australian Tanks included).
The flow-on of a construction industry boom
Investing into infrastructure makes sense for the Queensland Government because it will improve the state’s appeal to interstate and overseas migrants, developers and investors.
It’s also fuelling growth and employment opportunities. In 2023–24, the government’s capital program will directly support around 58,000 jobs across the state, with projects around Brisbane expected to support around 38,500 jobs.
Meanwhile, Queensland’s population is expected to grow by more than 16 per cent by the time Brisbane hosts the Olympic Games in 2032, to reach 6.16 million inhabitants. Of this number, 3.082 million are expected to live in the state’s capital.
More jobs means more people… and more people will need somewhere to live. This is one area where there is concern at the moment, with the Financial Review reporting that rising construction costs and delays on regulatory approvals are creating a massive bottleneck for the development of new homes in Queensland.
The other factor to keep an eye on is rising construction costs. For one thing, wage growth has caused job costs to blow out and reports say builders in Brisbane are now earning more than in any other city. The rush to build is also leading to worker shortages, which is pushing salaries up further.
Lastly, there’s the issue of materials and supplies to support major projects. The pandemic hit the supply chain hard and it has become more expensive and time-consuming to source materials from China and other countries. To counter this, Australia’s manufacturing industry is now playing catch-up. We’re seeing a resurgence of on-shore manufacturing, which helps to eliminate long delays caused by shipping issues and in turn create more jobs for Australians.
It’s also fuelling growth and employment opportunities. In 2023–24, the government’s capital program will directly support around 58,000 jobs across the state, with projects around Brisbane expected to support around 38,500 jobs.
Meanwhile, Queensland’s population is expected to grow by more than 16 per cent by the time Brisbane hosts the Olympic Games in 2032, to reach 6.16 million inhabitants. Of this number, 3.082 million are expected to live in the state’s capital.
More jobs means more people… and more people will need somewhere to live. This is one area where there is concern at the moment, with the Financial Review reporting that rising construction costs and delays on regulatory approvals are creating a massive bottleneck for the development of new homes in Queensland.
The other factor to keep an eye on is rising construction costs. For one thing, wage growth has caused job costs to blow out and reports say builders in Brisbane are now earning more than in any other city. The rush to build is also leading to worker shortages, which is pushing salaries up further.
Lastly, there’s the issue of materials and supplies to support major projects. The pandemic hit the supply chain hard and it has become more expensive and time-consuming to source materials from China and other countries. To counter this, Australia’s manufacturing industry is now playing catch-up. We’re seeing a resurgence of on-shore manufacturing, which helps to eliminate long delays caused by shipping issues and in turn create more jobs for Australians.
Our Perspective
At Australian Tanks, we are busy hiring engineers and other staff to support the design and fabrication of new precast concrete water tanks and onsite stormwater detention solutions for a range of projects across Queensland and beyond.
By keeping our manufacturing local, we’re able to make and deliver to order in much shorter time frames than overseas manufacturers, while producing quality, fit-for-purpose products that meet the needs of the current construction industry boom.
Need water tank and storage solutions for your upcoming project in Queensland? Contact Australian Tanks today.
By keeping our manufacturing local, we’re able to make and deliver to order in much shorter time frames than overseas manufacturers, while producing quality, fit-for-purpose products that meet the needs of the current construction industry boom.
Need water tank and storage solutions for your upcoming project in Queensland? Contact Australian Tanks today.
