The decision by the Victorian Government to shutdown all building sites in Melbourne and certain municipalities for the next two weeks is both disappointing and challenging for the residential building industry.
Victorian stonemasons at risk of silicosis will be able to get free world-class health screenings and treatments thanks to a landmark partnership between WorkSafe and The Alfred.
“The strength in New Home Sales in recent months indicates that the boom in detached home building will continue to create strong employment opportunities into the second half of 2022,” stated HIA Economist Tom Devitt.
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) dropped by 9.2 points to 51.6 in August, indicating weak expansion across manufacturing and effectively pausing a solid period of recovery throughout 2021 (readings above 50 points indicate expansion in activity, with higher results indicating a faster rate of expansion).
“Australia is experiencing a building boom with a record level of detached homes under construction but a return of a stable and reliable growth in population is necessary to ensure economic growth,” stated HIA Economist, Angela Lillicrap.
Following concerted efforts from the Australian Forest Products Association (AFPA) and industry, the ACT Government has allowed forestry and timber operations to resume as essential industries under the Territory’s COVID lockdown rules.
Australia’s timber framing sawmills have increased employment by up to 25 per cent to meet demand fuelled by the COVID-induced building boom, according to new analysis by the Australian Forest Products Association (AFPA).
“New Home Sales fell by 20.5 per cent in July, with declines experienced in almost all major states,” stated HIA Economist Tom Devitt.
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) eased by 2.4 points to 60.8 in July, remaining in strong expansionary territory but indicating a slower rate of growth from June’s record expansion (readings above 50 points indicate expansion in activity, with higher results indicating a faster rate of expansion).
Australia’s largest integrated manufacturer and supplier of steel long products, InfraBuild, has announced the appointment of Vik Bansal as its new CEO.