Jul 30 2015
Research and Markets has announced the addition of the "Construction Market in Australia 2015-2019" report to their offering.
The construction market in Australia to grow at a CAGR of 6.3 % over the period 2014-2019.
This report covers the present scenario and the growth prospects of construction market in Australia for the period 2015-2019. The market size has been calculated based on the contribution of the construction industry to the GDP of Australia. The report presents five key vendors and a detailed analysis of these vendors. Market growth drivers, the challenges faced by vendors and the industry as a whole, as well as key trends emerging in the market are also discussed in the report.
Consumers are now inclined toward green buildings for new constructions as well as renovations. A greater focus on both conserving energy and reducing energy costs is leading to high demand for green buildings in Australia. Also, emergence of green bonds is driving the growth of the green buildings market.
According to the report, first-time home purchasers are expected to increase in the coming years with the increase in income levels, fall in interest rates to 2.25%, and increase in government grant for first-time buyers. According to the ABS, in 2014, close to 94,265 loans were issued to first-time home buyers of which 16% were in the age group of 25-35. In addition, under the Home Buyers Assistance Account, the government provides financial assistance to first-time home buyers on purchase of an established or a partially built home.
Further, the report states that lack of training and experience particularly in project management, risk management, and contract administration is hindering development of construction projects in Australia.
Source: http://www.researchandmarkets.com/