Cordell’s Australian Construction Market Movement Report Released
Cordell, which late last year became a CoreLogic business, today released the March quarter (Q1 2016) Construction Market Movement Report. The report delivers a comprehensive overview of construction projects identified within Australia over the last twenty four months across civil engineering, apartments and units, commercial, industrial, mining and community and comprises of the following:
- New Projects Pipeline – projects entering the construction pipeline, volumes, value, and comparisons and contrasts to earlier quarters.
- Deferred projects – looks at the deferred projects over past 24months.
- Abandoned Projects – projects no longer taking place.
- In Construction – projects which have moved into construction phase over past 24 months
Commenting on the Cordell report, CoreLogic spokesperson Greg Dickason said the overall results to the March 2016 quarter were positive with civil engineering projects in roads and infrastructure leading the way; 4302 projects totalling $76 billion entered the construction phase in the March 2016 quarter compared with 3931 for the same time last year totalling $47billion.
Mr Dickason said, “While general pipeline activity is encouraging with 4830 projects underway valued at around $50 billion, and largely dominated by apartments and unit developments, deferrals increased. Four hundred and eleven construction projects were placed on hold over the quarter compared to 375 in the March 2015 quarter. In addition, three hundred and seventy five projects were confirmed as abandoned in the March 2016 quarter compared to 320 for the March 2015 quarter.”
Download the full report now.