While Australia’s overall business expenditure has remained fairly strong, our Commercial construction and infrastructure outlays are expected to decline by at least 10% this financial year.
BCI Australia is forecasting project construction of some $63 billion 2009-10, which is about $7.7 billion down on that for 2008-09.
In all but for Victoria and South Australia, there was general over construction during the past few years. And therefore, you are not likely to see new Commercial construction pick up, until mid-2010.And that’s good news as far as impending cost rises, for anyone planning a new project.
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