Forecast: Building Construction Value Added in Australia

The building construction value added in Australia has shown significant growth from 2013 to 2023, transitioning from 21.13 Billion AUD to 36.32 Billion AUD. This represents a cumulative average growth rate of 5.94% over the entire period. Despite fluctuations, the value exhibited a consistent upward trajectory with strong year-on-year growth, peaking in 2017 at 12.85%. However, growth moderated in recent years, with 2023 reflecting a modest 2.68% increase.

- Year-on-year variation highlights:

• 2013: 1.77%

• 2014: 4.84%

• 2015: 10.2%

• 2016: 7.42%

• 2017: 12.85%

• 2018: 11.1%

• 2019: 6.85%

• 2020: 2.63%

• 2021: -5.52%

• 2022: 3.87%

• 2023: 2.68%

- Recent performance:

• CAGR 2018-2023: 2.02%

• CAGR 2021-2023: 4.35%

Looking ahead, the forecast indicates a steady growth trend with the building construction value projected to reach 40.93 Billion AUD by 2028. The 5-year forecasted CAGR from 2024 to 2028 is anticipated to be 1.9%, signaling a more stable yet gradual expansion. Key future trends to watch for include the impact of economic policies, changes in housing demand, technological advancements in construction, and the influence of environmental sustainability initiatives on the industry.