QLD's mining-driven building boom 'to end soon': report
Queensland's mining-driven construction boom could end in just three years, a new report says.
The state's civil construction activity is expected to reach its peak as early as 2014, according to economic forecaster BIS Shrapnel.
Report author Adrian Hart says the recent spike in civil construction work is driven by liquefied natural gas (LNG) and coal projects.
"When you look at the timeframe of these projects, many of the largest ones, particularly the LNG projects, are timed to be completed towards the middle of the decade," he told reporters.
"What it's creating is a large bulge in construction activity right now that will be sustained through the next three years.
"But after that, as these projects wind down, they'll likely leave a sizeable gap in work.
"That's when we will probably see declining construction activity in Queensland - around the middle of the decade."
Hart said that unless a new round of mining projects begins in Queensland, construction workers will move to other states experiencing growth, such as Western Australia.
That doesn't necessarily mean the industry will suffer.
"What we will see in Queensland ... is a shift back towards urban construction projects that are probably not going to be fully addressed over the next few years while the mining boom is going gangbusters," he said.
"There's other projects that need to be done in and around Brisbane, (such as) rail, road and water projects.
"We'll probably see a return to some of those projects."
Have your say...
The approval of your comment is at the discretion of this article's publisher. Write your comment with the following in mind to ensure the highest likelihood of it being approved:
- No promotional undertones
- No use of profanity
- Good spelling, grammar and layout
- Check punctuation, language and missing words
- No use of aggression
- No unsubstantiated claims
We reserve the right to remove comments at our discretion.
Your name is used alongside Comments.