This first year of the decade, 2020, will continue to be challenging for the building and construction industry.

There is, however, a light at the end of the tunnel for an industry that is one of Queensland’s biggest employers and contributors to the economy, according to Master Builders Deputy CEO, Paul Bidwell.

Mr Bidwell said statistics from 2019 paint a clear picture of the tough year that’s been, with the forecast for 2020 looking equally as tough, particularly as sweeping legislative reforms continue to have an impact and contribute to rising costs.

“It’s not all doom and gloom – we did have some bright spots during the year with alterations and additions and government buildings up 10.9 per cent and 24.3 per cent respectively," said Mr Bidwell.

“On the commercial front the news is good where in 2020 we’re forecasting an increase to commercial building – up 7.3 per cent from the 2019 estimate to $7.8 billion, mostly on the back of government expenditure on public buildings.

“The retail sector will continue to decline before strengthening in 2021, while the reverse is true of education buildings as the government’s new schools investment program comes to an end. 

“Beyond 2020, modest growth in commercial building work is anticipated, climbing to $8 billion in 2023.

Mr Bidwell said the hope for the future lay in the Queensland economy, which according to the Queensland Government’s 2019-20 mid-year fiscal and economic review is forecast to grow at a healthy 2.5 per cent.

"Business investment is improving, although it continues to be held back by weak consumer spending," said Mr Bidwell.

Read here regarding the outlook for Queensland residential property.

Read here regarding changes in the Queensland building industry

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