Analysts in Australia agree that the apartment-building boom has finally peaked and with it the substantial contribution to growth coming from residential construction. But, they also agree that Australia is well-placed to benefit from an added increase in infrastructure spending and non-residential construction. Katrina Clifton, a Commonwealth Bank senior economist, said the positive impact will offset any falls in Australian employment and growth coming from a slowdown in residential building activity. There will be hiring in the construction sector. If you are willing to relocate to Australia for a job opportunity, contact Australia Immigration Professionals for information about the immigration process. Clifton said the change in construction paths would add close to 62,500 new jobs in Australia during the next year.
Not only will these Australian jobs be available in the construction sector, but other areas of the economy which will result from flow-on spending. Input/Output tables prepared by the Australian Bureau of Statistics were used by Clifton and her team to arrive at their estimates. She explained, “…the flow-on effects of an increase in residential construction include increased demand for furnishings and fittings. And increased demand for these goods lifts employment in the retail sector.” According to CBA, the non-residential construction and the increased home renovations will positively impact growth over the next two years. With the many Australian job opportunities opening up, now would be a good time to consider relocating with your family. Contact Australia Immigration Professionals for help with the process to receive the required visa to live and work in Australia.