NSW building industry has better prospects from 2016: ACIF

The NSW building industry is set to enjoy better prospects from 2016 onwards after a period of moderation, Australian Construction Industry Forum forecasts show.

This growth will outpace the other states, making NSW one of the most optimistic in the country.

Residential building is a key part of the uplift-in-demand forecast, with strong growth over the medium-to-long term, the ACIF predicts. Notable in this uptick is a change in the types of housing that the NSW market is choosing – a good increase in apartments and townhouses.

Building and construction in non-residential work, including commercial premises, community facilities and more, are also looking positive for the state.

“The ACIF Forecasts point to NSW returning to a good rate of work after a number of years of struggle,” says ACIF executive director Peter Barda.

‘’Only Queensland shares this strong rate of growth over the medium term, with other states softening.’’