Changing demographics creating opportunities for Tasmanian builders: ACIF

While much of Australia is set to experience a flat to declining non residential building sector, recent industry forecasts show that Tasmania is set for an upswing in demand for non-residential work due to its unique set of factors.

“Demographics play a big part in this,” says Peter Barda, executive director of Australian Construction Industry Forum.

“An ageing population creates an increased need for aged-care facilities and health services. While the sharp uptick in demand for these assets will moderate when compared with the past decade, it will remain at relatively high levels.”

The Tasmanian engineering construction sector also gets good news from the forecasts. Drivers in the local demographic are seeing, over time, an increase in the level of engineering work that may make interstate migration an option for some players.

Residential builders won’t be so pleased, though. ‘’A mild recovery is forecast, once we get through the next period of flat to declining demand,’’ Barda says.

The chart shows the relatively strong forecast for Tasmania’s non-residential sector compared to the outlook for the rest of Australia.