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

How India is bucking the global dealmaking downturn

M&A deal volume and value reach record highs in India in 2022, despite slower dealmaking globally – as scope activity and acquisitions in renewables surge

Create C-suite space for the Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 AI predictions for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

Welcome to the new breed of private members' clubs

Leadership & Strategy

Welcome to the New Age of the CISO

Leadership & Strategy

Making the UAE the world’s strongest digital fortress

Technology