New research shows construction activity – which has been dwindling to alarmingly low levels in the past six months – could be about to increase.
BIS Shrapnel claims NSW, Queensland and WA will see significant surges in activity, particularly in NSW where it’s forecasting a 21% increase.
Mining and gas investment continues to bolster activity in the mining states, it said.
''Early signs of firming house prices, increasing demand for housing loans and an uptick in dwelling approvals in recent months suggest that the market may have finally reached bottom,'' the report said.
However, it’s bad news for Victoria, which will experience a decline of 14% in new builds. BIS Shrapnel blamed the ending of the first-home buyers’ scheme in June for causing a stall.