Australian Bureau of Statistics data shows $2.3bn increase in construction work value in the past year

New data from the Australian Bureau of Statistics shows the value of construction work in the Territory in the past year has skyrocketed.

CONSTRUCTION work in the Territory increased 24.5 per cent to a value of $2.3bn in the past year, according to the Australian Bureau of Statistics.

The new data showed from 2020-21 engineering construction in the NT increased by 24.5 per cent to $2.3bn – the strongest result of all jurisdictions.

Non-residential building construction increased by 22.7 per cent, reflecting a 47.1 per cent increase in public sector construction to $287m, which was above the 10-year average of $260m.

Residential construction increased by 12.4 per cent, a 33 per cent increase in new housing and 1.1 per cent jump in alterations and additions.

This was partly offset in a 19.7 per cent reduction in units and townhouses.

Master Builders NT chief executive Dave Malone said while the figures were still below the long-term average for the NT’s industry, they showed the Territory was turning the corner, particularly for commercial and civil works.

“There are 1500 more people working in our industry today than at the start of the year,” he said.

“The last 3.5 years were some of the toughest times our industry has seen. We knew the work was coming through and now it has and there’s more coming through the pipeline.” However, Mr Malone said there were concerns for the future of the residential building sector following the closure of incentives such as the BuildBonus and Territory Home Owner Discount for stamp duty.

MORE TOP NEWS

APPLY NOW: Cabin crew training course open for expressions of interest

Works underway for NT community and family facilities

Construction is full steam ahead on the Top End’s newest Maccas

“We are desperately trying to find out what impact this is going to have going forward,” he said.

“There are many businesses relying on residential construction for a living. We need bright, young people to take on the job of growing the Territory and if we make their lives harder to live here than somewhere else, moving is a no-brainer.”

Chief Minister Michael Gunner said the construction industry had benefited from the Territory’s strict approach to Covid-19.

“I know our recent lockdowns have hurt, but because we shut down so quickly, we were able to re-open and get back to business faster, as opposed to other jurisdictions stuck in extended lockdowns,” he said.