Construction industry GVA Australia 2015-2024
Australia’s construction industry reported a gross value added of around 175 billion Australian dollars in the year ended December 2024, representing a slight increase from the previous year. The industry encompasses various segments, including building construction, heavy and civil engineering construction, as well as construction services.
The state of Australia’s construction industry
The construction industry is a key contributor to Australia’s economy and an employer of over 1.35 million people nationwide as of November 2024. In the country, the total value of residential construction work completed across the private and public sectors is significantly higher than that of non-residential construction work completed.
Construction material shortages
Recently, supply chain issues led to construction material shortages across Australia, disrupting the industry. In conjunction with rising housing demand, material prices soared, delaying new constructions and putting cost pressures on construction companies and clients alike. The producer price index of steel and timber products, such as timber board and joinery, some of Australia’s most highly demanded construction materials, soared across the country. In response to shortages and inflating prices within the sector, government agencies, departments, and key companies have been investigating the potential of recycled materials as a replacement for conventional construction materials. Reclaimed asphalt pavement, recycled glass, and crushed concrete were considered to have the largest replacement potentials within Australia’s infrastructure industry.
