The construction industry is a big business in Australia, and it makes up 9% of the country’s GDP as well as accounting for 9% of employment.
There have been plenty of ups and downs, and a lot of challenging years, but there’s no doubt the future looks bright. This is particularly because of the new trends hitting the market. Here are some of the most significant.
Technology
The mining industry has already felt the power of technology, making the industry far safer than ever before and streamlining many of the most dangerous processes. The same can be
expected in the construction industry, though it goes a step further. A quick walk around a construction site shows just how far things have come technologically speaking.
The equipment has GPS. There’s wearable technology at play. Drones are involved. Blueprints and checklists have gone digital. All of this results in much higher efficiency. Things happen faster, they’re more organized, and the schedule becomes easier to stick to because of it.
Going green
Everyone is going green and in construction, you can’t afford to miss the boat, particularly as buyers are looking more and more towards Green Ratings for their purchases. Major companies are doing it, and while it might be a bit easier with a big budget behind you, by going green you are increasing positive attention – and you can even save money in the long run. If you want to get ahead in construction, you need to consider sustainable solutions with each new project you take on board.
Civil projects
Ultimately, the biggest winner in terms of construction trends is likely to be in the civil sector. The reason for this is an increase in the transport infrastructure projects spearheaded by the government. Right now, the biggest contracts revolve around rail and road construction, oil, gas, telecommunications, and recreation. This is set to pave the way for a busy market for years to come.
Totally modular
Although we haven’t really taken part in the tiny-house trend like the rest of the world, modular homes are a different story. For a long time, modular homes have been viewed as cheap and tacky, but they have been the home of choice in Nordic, North American, and Asian countries for decades.
And the technology on these has changed dramatically in the past few years. In fact, modular homes are not only gorgeous to look at these days, they’re also a fast and efficient way of getting a brand new house, onsite, asap. Modular homes offer cost savings, as well as a smaller environmental footprint.
According to Mordor Intelligence, modular homes are expected to represent 15% of the Australian construction industry by 2025. That’s an additional $30 billion to the economy. It’s a big business.
Outdoor space
If there is one thing that COVID19 and lockdowns have taught us it’s the importance of outdoor space. While anyone living in the suburbs had the luxury of a garden, city dwellers weren’t quite
as lucky. As such, it’s no surprise that many people who live in apartments and flats are looking into adding a balcony.
The key is to enlist the service of qualified professionals. The great news about a balcony is it’s an investment for the future as moving forward, outdoor living space is going to be a must for potential buyers. There is the risk of leaks, which is why it’s important to be proactive and know what you are looking for.
Renovations lead the way
The growth of residential housing has flattened and many in the industry believe this is set to continue over the next few years as well. Birth rates and migration have dropped so there is less need for new builds – however, renovations are another story! This is good news for potential buyers, good news for the industry, and good news for homeowners!
While all renovations are on the table, many Australians are looking to expand their kitchens, convert to open plans, and improve their outdoor living space. COVID19 influenced our priorities and we have a clearer idea of how important our castles truly are to our happiness and well-being.