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Australia Construction to Drop More Than 10% a Year to June 2022

  • Master builders lower commercial construction forecasts
  • Government urged to boost public-sector building to bridge gap
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Photographer: Brent Lewin/Bloomberg

Australia’s commercial construction activity will collapse as the impact of Covid-19 wipes out private demand for new building works, a national industry body said.

Master Builders Australia expects commercial building activity to be 15.7% lower in the fiscal year to June 30, 2021, than it previously was forecasting, according to an e-mailed statement from the body. The group predicts a decline of 11.5% from prior estimates for the 12 months ending mid-2022.