Aussie building surge is coming: tradies expect busy 2021.
COVID-19 has had a powerful effect on lots of Australian industries. Some, like the tech sector, have seen explosive growth, while restaurants and local retailers have had a very tough year in 2020.
Many construction and home building businesses have also been impacted by COVID, but it’s not all bad news for Aussie tradies. The Australian Government’s newly released budget includes solid support for the building industry, cementing the boost delivered by the HomeBuilder Incentive Scheme.
According to the Australian Financial Review, '(building industry) activity in Western Australia and South Australia moved back into expansion in August… and Queensland’s index rose to remain just below 50,' positive indications that the post-COVID recovery is underway.
Business growth ahead.
With the continued easing of COVID restrictions in New South Wales and Victoria, Australia’s economic recovery is set to be one of the fastest in the world.
The Aussie construction industry has responded effectively and responsibly to the crisis, and that action will be rewarded in 2021. Demand for housing is still high across Australia so economists expect a surge in building activity as Australians go back to work and resume their normal lives.
Renovation will be an especially busy sector of the construction industry as homeowners look to maximise the capital value of their properties, so independent builders and tradesmen should prepare for strong demand around the new year 2020/2021.
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