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Australia and New Zealand Construction Forecast 2019
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By Fiona Hamann
February 18, 2019
The construction outlook for 2019 is looking strong with 2,210 new construction projects entering the pipeline at the end of 2018, according to a recent report.
The total value of new projects is estimated at $25 billion. While this is a decline of about 16 per cent on the prior month’s figures, the outlook remains strong, sitting at almost double the three-year median value.
According to the CoreLogic Cordell Construction Monthly report, the biggest growth area continues to be infrastructure projects both in the number of projects and value.
Western Sydney Aerotropolis is the largest single project representing half of the value of NSW new projects. It is expected to create 200,000 new jobs.
Nationally, civil engineering projects are the strongest as they represent 27 per cent of the 2,210 projects, and make up 54 per cent of the total value.
Nationally, civil engineering projects are the strongest as they represent 27 per cent of the 2,210 projects, and make up 54 per cent of the total value. Apartments and units make up 26 per cent of projects. but they represent only 15 per cent of the value of projects.
The number of projects moving into the construction phase is 53 per cent higher than it was back in October. However, it is low when compared to the number of new development applications, with 684 moving into the construction phase at the tail end of 2018 or in 2019.
A few of the projects scheduled to begin their tender process in the mainland states in 2019 are:
Waterloo Metro Quarter. The 29-storey, 3-tower development will include 700 dwellings of which 5–10 per cent will consist of affordable housing and 70 affordable housing dwellings.
The Mulgoa Road/Castlereagh Road Upgrade, for the Jane Street-Union Road to Museum Drive.
A new $500 million campus for the University of Sydney in Parramatta/Westmead.
A five-storey private hospital/medical building in Tilley Lane in Frenchs Forest.
A 252 room, 4-star hotel and office tower in North Sydney (the developer has submitted amended plans to council).
Western Sydney Aerotropolis to commence construction in 2019.
Forest 69, a medium-sized hotel and conference facility. Initially, the 1.7-hectare site was to be home to a Chinese Golden Larch Forest.
The second stage of the Monash Freeway. Tenders have now been invited for design and construction of the $711 million infrastructure.
Victoria University City West Tower in Little Lonsdale Street.
87–89 Flemington Road in North Melbourne. The site has approval for a 14 storey mixed-use development with 48 apartments and commercial. It is one of Haymarket's last approved development sites.
Balfe Park Lane, a new sustainable apartment complex at Brunswick East. The development offers medium-density living across four interconnected buildings between Nicholson Street and Balfe Park.
The City of Yarra, a $30 million mixed-use development at Brighton St in Richmond. The project will comprise three buildings of 9-12 storeys with 96 apartments, townhouses and retail.
Brunswick, the 160-year-old Sarah Sands Hotel to become a mixed-use precinct with 31 residential apartments in a ten storey building.
Primewest's office park in Strathpine, the new headquarters for Super Retail Group. Construction is expected to be completed by September 2019.
Broadbeach, construction to commence on a 20-storey unit building on the Gold Coast. The development comprises 22 luxury units, including 14 whole-floor apartments.
Maroochydore CBD, Market Lane Residences is a 12 storey tower with 65 apartments. Stage 2 consists of a 14 storey tower comprising 81 apartments and Stage 3 six SOHO Townhomes.
Queensland’s newest adolescent mental health centre at The Prince Charles Hospital campus. The new centre is expected to be open by early 2020.
Brisbane's first vertical high school in Fortitude Valley.
The $60 million South Rockhampton flood levee has been fast-tracked through a prescribed project declaration from the Palaszczuk Government.
Mount Gambier City Community and Recreation Hub, featuring six regulation size, multi-purpose courts, 25-metre pool, crèche and café.
A 176 MW solar farm and battery storage facility in Pallamana, near Murray Bridge. It’s going to supply electricity to the national electricity market to meet the needs of 82,000 households.
A new national headquarters for Mitsubishi Motors Corporation at Adelaide Airport with completion expected late 2020.
A $42 million, 128-room boutique hotel is planned for Adelaide Oval. The hotel has backing from Cabinet but is yet to receive development approval.
A 78-kilometre gas pipeline in the East Pilbara region of Western Australia.
A $20.4 million upgrade to Margaret River's Wastewater Treatment Plant. The upgrade will double the capacity of the plant to produce three million litres per day.
Western Australia's largest solar farm in Merredin. The solar farm will have a generation capacity of approximately 120MW (AC) via the use of between 360,000 and 400,000 tracking solar panels and associated infrastructure.
If you'd like to learn more about the construction forecast in 2019, and how it can impact your business, be sure to click here for your free "Australia and New Zealand Construction Forecast 2019” ebook.
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