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Home loans made clear

Construction booming

By johnboy 1 December 2011 0


Andrew Barr is letting us know that the latest Construction Snapshot is looking rather rosy:

Canberra’s construction sector continues to show its strength with around $13.5 billion worth of projects currently planned or under way in the ACT according to the latest Canberra Construction Snapshot.

Construction is a major contributor to the ACT economy and since coming to office, the ACT Labor Government has invested massively in infrastructure with record-breaking capital works programs in education, health, transport and the environment delivered over recent years.

Another example of the Government’s commitment to the building and construction sector is our record on increasing the supply of land in Canberra. With 5,048 new housing sites released last financial year, we are delivering new homes and supporting the jobs of 15,800 Canberrans in the construction industry.

The latest Snapshot also reflects our continued commitment to improving housing affordability with more than $2.6 billion of residential building already underway and an additional $1.3 billion of developments planned for the coming years.

This residential development is occurring in both new greenfield estates and the increasing residential density of our town and group centres in line with the ACT Labor Government’s objective of 50:50 greenfield and urban renewal developments.

The Snapshot outlines Canberra’s developers and institutions plans to invest almost $6.4 billion in the coming years, with $7.3 billion in activities already underway making it very clear that Canberra is a great place to do business.

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