ACT construction industry booming

According to the latest Canberra Construction Snapshot, released by ACT Chief Minister and Minister for Land and Property Services Jon Stanhope, Canberra’s construction boom is continuing, with around $18 billion worth of projects currently planned or underway in the ACT.

The fourth edition of the ACT Government’s Snapshot details current and planned construction works in the ACT region from the public and private sectors, from September 2010 to March 2011.

Stanhope said more than $1.4 billion worth of projects had been added to the Snapshot since the last edition was released in September 2010 - a sign of new activity and the willingness of the industry to get behind the Snapshot.

“In the six months to March, reported construction activity was up by $100 million while planned projects have increased by $1.3 billion,” Stanhope said. “More than $7.3 billion worth of construction projects are being delivered in the region, supporting around 14,300 local jobs and keeping our economy humming.

“The government expects the level of investment to remain strong with construction projects worth more than $10.5 billion planned for the ACT.”

Projects being delivered by the ACT Government include more than $380 million worth of health infrastructure and nearly $440 million in new schools and education facilities. The government’s land release program also accounts for $1.2 billion worth of activity.

Other projects underway are the $606 million ASIO building, $363 million Enlarged Cotter Dam, upgrades to the Canberra airport worth almost $300 million and new student accommodation at the Australia National University, valued at $106 million.

The number of people employed by the ACT’s construction industry is also up, with latest Real Estate Institute of Australia figures showing an increase of 33% over the six months from May 2010.

The Snapshot includes the locations, costs and completion dates for all construction work planned and in progress and is available from www.business.act.gov.au.