The construction output in Australia is forecasted to see steady growth from 2024 to 2028. In 2024, the value is projected to be 39.9 billion AUD, increasing gradually to 41.5 billion AUD by 2028. This equates to a consistent year-on-year increase of approximately 1%. The year 2023 saw the construction output at 39.5 billion AUD, which means that, from 2024, there is an evident upward trend indicating a robust market.
Key variations are as follows:
- 2024-2025: 1.03% increase
- 2025-2026: 0.99% increase
- 2026-2027: 0.98% increase
- 2027-2028: 0.95% increase
Over the last two years, the compounded annual growth rate (CAGR) shows a modest but positive increase, illustrating steady market confidence and investment in the construction sector.
Future trends to watch for include the impact of government infrastructure projects, technological advancements in construction practices, and shifts in economic policies. Monitoring these variables will provide deeper insights into the potential fluctuations and opportunities within the construction industry in Australia.
