Construction Outlook

Key indicators that drive the Fishbowlia business are the outlook for population growth in Australia and current construction industry conditions.

Australia’s population was 26,638,544 people as of the 30th of June 2023. The quarterly growth was 146,800 people (0.6%) whilst the annual growth was 624,100 people (2.4%). This included for a annual natural increase of 106,100 and a net migration of 518,000 people.

Stepping back. Australia’s population has jumped more than 30% over the last two decades due to a much higher net migration rate, which has fueled demand for new homes. More locally the Queensland government has recently introduced The Housing Availability and Affordability Bill 2023 to address current housing and affordability through committing to invest $4 billion. Continuing to deliver on a range of existing initiatives and programs.

What does all this population growth and the housing outlook mean to the project? In short the planning codes in Australia were changed to encourage more high-rise development, publicly endorsing the advent of high-rise residential.

Counting cranes on a city skyline is a simple way to understand the health of the construction market relevant to high-rise residential, commercial and mixed where the RLB Crane Index records 882 cranes nationally. With South-East Queensland, the location where Fishbowlia commences recording 19.0% of these tower cranes.

What’s the relationship between tower cranes and Fishbowlia? The majority of developments where a tower crane is found has a relationship with these high-rise buildings which have a deep basement retention structure. These deep basements are the cornerstone of the business requiring specialised construction plant in piling rigs, rotary drill rigs, line pumps and air compressors. Driving sustained and increasing demand in a specialised field we are entering.

Other sectors within the local economy the project can service include civil infrastructure, tunneling, utility providers, sea wall remediation, dam remediation, wind farms, wharf and port construction.

South-East Queensland is also hosting the 2032 Olympic and Paralympic Games which brings with it an unmissable opportunity to accelerate development across the state. The Brisbane 2032 $7 billion infrastructure program includes 19 new or upgraded projects that are being pre-planned to meet the needs of the growing region. Including multi-purpose infrastructure including athlete villages which will be used for permanent housing post the games.

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