Report: Australian construction sector outlook

22 Jul 2024

Supply chain disruptions and regulatory shifts are forecast to impact those operating within the construction sector over the coming months and years
Businesses are feeling the impact of reduced activity, with figures revealing the construction industry is experiencing the largest number of insolvencies across all sectors in Australia in recent months
QBE’s Australian Construction Sector Outlook report can help you navigate these emerging challenges, with risk insights and solutions for your business and customers

Navigating a period of transformation in the construction sector

The outlook for Australia’s construction sector is marked by both challenges and opportunities. Global geopolitical tensions, particularly conflicts in Ukraine and the Middle East, are impacting supply chains and increasing material costs.¹ Domestically, higher borrowing costs are straining housing demand and supply, despite governmental efforts to boost social housing and public infrastructure projects.²

Australian Construction Sector Outlook report cover

However, promising trends are emerging. The rise in demand for sustainable construction and affordable housing is driving the adoption of new building techniques like modular construction. Additionally, Australia’s net-zero target and new energy efficiency requirements are promoting a shift towards more environmentally sustainable buildings.³

Preparedness is key. Download QBE’s Australian Construction Sector Outlook report prepared by Oxford Economics and Control Risks, for practical steps to help you navigate the rapidly changing risk environment in the years ahead.

Key takeaways

Economic impacts and workforce insights: Discover how the construction sector, employing over 1.3 million workers and contributing $161 billion to the economy, is a cornerstone of Australia’s economic landscape.⁴

Insights and future trends: Gain insights into the forecasted growth in residential and non-residential construction, driven by technological advancements and demand for sustainable practices.⁵

Navigating supply chain challenges: Understand the impact of global geopolitical issues and local policy changes on supply chains, and explore practical steps to mitigate risks.⁶

Download the Australian Construction Sector Outlook report

For a deeper understanding of the latest industry trends, challenges, and actionable insights, check-out QBE’s Australian Construction Sector Outlook report.

Download the report Explore QBE’s Resilience Series

¹ Page 8, Australian Construction Sector Outlook, QBE Insurance, 2024
² Page 13, Australian Construction Sector Outlook, QBE Insurance, 2024
³ Page 12, Australian Construction Sector Outlook, QBE Insurance, 2024
⁴ Page 5, Australian Construction Sector Outlook, QBE Insurance, 2024
⁵ Page 13, Australian Construction Sector Outlook, QBE Insurance, 2024
⁶ Page 8, Australian Construction Sector Outlook, QBE Insurance, 2024

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