The Australian Construction Industry Forum (ACIF) has predicted that despite the reduction in private spending on commercial property, job losses within the construction industry will slow down due to the assignment of government stimulus packages. Infrastructure funding, low interest rates and the first home owners grant have also played their part in creating a promising future for the industry.
Peter Barda, executive director of the Construction Forecasting Council (CFC) anticipates an improvement for the Australian construction industry by the end of 2009. He suggests that architects and designers will be needed for projects in the education, health and single dwelling sectors.
Government stimulus packages have increased the demand for resources and as a result, created numerous jobs across Australia.
Barda is confident that in time, the construction industry will improve as more money for commercial and private property becomes available. He said that due to the demand for houses, the industry should make a full recovery by mid-2010.