Sydney ranked the most expensive city for construction in Australia

By Galia Ilan

Sydney has been ranked as Australia’s most expensive city to build in, placing ninth on the global scale.

Melbourne was considered the nation’s second most costly city for construction work, according to a recent report by Turner and Townsend.

The report, titled ‘International Construction Market Survey 2018’, places Brisbane third and Perth fourth.

Globally, Melbourne ranked 19, Brisbane was placed at 21, and Perth could be found at 23.

In terms of tendering conditions, Sydney and Melbourne are ‘hot’ cities, with Brisbane being ‘lukewarm’, and Perth being considered ‘cold’.

SEE ALSO:

“[Australia’s growth phase] is set to continue until the end of this decade led by road and rail projects, commercial, health, retail, defence and hotel sectors,” stated Gary Emmett, Economist at Turner and Townsend.

“Sydney and Melbourne are witnessing strong growth in financial services, and real estate, with 17 per cent jobs growth during the year. Unemployment has fallen to 5.4 per cent,” the report states.

The report also highlights the rise in spending within infrastructure across the country, as well as activity rise.

“Major road and rail projects are ramping up, boosting the local economies and demand for trade skills,” the report reads.

“Tunnelling is a focus. Sydney Metro Rail is delivering 15 kilometres of tunnels, and Westconnex, a mostly underground 33 kilometre roadway, is under way.”

Share

Featured Articles

The world’s biggest chipmaker bets big on renewable energy

Despite the struggle faced by chipmakers to reduce emissions, Taiwan Semiconductor Manufacturing is accelerating renewable energy adoption by 10 years

Uniqlo shakes up leadership amid global retail ambitions

Fast Retailing, the group behind Japan’s Uniqlo, overtakes Gap with soaring profits and is now eyeing accelerated global expansion with executive shakeup

What is the ESG strategy of Chinese automaker Geely Holding?

Chinese automotive giant Geely Holding released its 2022 sustainability report, so what is the car maker’s ESG strategy?

Top 10 best-performing CEOs in Singapore

Leadership & Strategy

Top 10 women behind India’s most successful tech startups

Leadership & Strategy

Top 10 best private members clubs in Singapore and Hong Kong

Leadership & Strategy