Tasmania’s construction industry is going from strength to strength, according to new ABS construction data for the June 2021 quarter.
Engineering construction activity is now 37.3 per cent higher than the same time last year, which is the largest annual growth rate in the nation.
There was more than $1.55 billion in engineering construction work done in the 2020-21 financial year, and in the June 2021 quarter, activity grew by 14.2 per cent in seasonally adjusted terms, which is the second largest growth of any state. This is over four times higher than national growth in the quarter.
Construction grew in all sectors, but was particularly strong in annual terms in bridges, railways and harbour work, heavy industry, water storage and supply, and recreational sectors.
The Tasmanian Liberal Government is the strongest supporter of the building and construction sector and the 2021-22 Budget outlines a $5.7 billion infrastructure program to support 28,000 jobs and stimulate and support demand over four years. The Budget also delivers a number of programs and initiatives to stimulate activity in the building sector, including our $615 million investment in social homes, $20 million for the Building Support Program to bring forward community and commercial projects, our ancillary dwellings program, First Home Owner Grant, HomeBuilder and the Headworks Holiday programs.
These initiatives are clearly delivering results, boosting our economy and keeping Tasmanians in jobs as we work to secure our future.
The latest ABS data also details the millions of dollars’ worth of work still in the pipeline in the private and public sectors, for new roads, bridges, water infrastructure, housing and construction, so there is no sign of slowing down.