The housing construction industry in Melbourne is now the epicentre of the nation’s residential building boom replacing Sydney with 12 of the top 20 housing construction “hotspots” located in Melbourne.
According to research by the Housing Industry Association, over the last financial year Melbourne had the majority of “hotspots” in the top 20 “hotspots” with the remaining 8 being located in Sydney and Southeast Queensland.
A “hotspot” is a region where at least $150 million worth of residential construction work was approved over a 12 month period and the rate of population growth is faster than the national average (1.6%).
The HIA said solid employment and population growth in Victoria will result in it continuing to dominate the “hotspots” list for the current financial year and even longer.
In the 12 months to June 2017, Melbourne’s population grew by 125,400.
As the demand for housing continues, the housing construction sector in the state will continue to flourish and tradies will benefit. If you’re interested in capitalising on the Victorian construction boom and getting involved in this industry for the first time, or if you plan on returning to it, you need to complete the White Card course (Work Safely in the Construction Industry). You can complete the Victorian White Card course online and get your nationally recognised accreditation to start earning in the construction sector anywhere in Australia today.