The most recent CommSec State of the States report in January 2022 revealed that Victoria is the strongest performing state for construction work and the third strongest state overall.

The measure used for analysis by CommSec was the ‘total real value of residential, commercial and engineering work completed in seasonally adjusted terms in the September quarter’.

The numbers are in

With Victoria’s construction sitting at 21.9% above its decade average, the state leads Tasmania, South Australia and New South Wales. Adding to this victory is Victoria’s accelerated performance for relative dwelling starts – now 22.5% above the decade averages.

Victoria rocketed from fifth to second between September 2021 to January 2022. Housing finance is also up, with Victoria sitting second behind New South Wales.

Powering on post-pandemic

Victoria even experienced the fastest annual growth of real retail trade, up 8.7% – ahead of Western Australia (up 1.8%) and the Northern Territory (up 0.9%), according to the CommSec State of the States report, reinforcing how the state has robustly returned from the pits of the pandemic.

The aggressive handling of the Omicron COVID-19 variant in 2021/22, which has seen Victoria virtually return to normal, has been the reason for getting back to business.

Not only has consumer confidence improved out of sight, but employment is on the rise (25,000 new jobs created in December), and commercial builders in Melbourne feel a sense of renewed purpose.

Election promises

With Victoria looking to cement its standing as the leading Australian state for construction work, federal Labor leader, Anthony Albanese, has announced $2.2bn for the eastern section of the Victorian government’s Suburban Rail Loop.

The most significant transport project in the state’s history will go a long way to ensure that Victoria remains number one in construction for a while yet.

Even the Australian Construction Industry Forum (ACIF) expects building and construction activity to remain at or above the $52 billion mark. Coupled with the boom in construction due to strong population growth, a recovering economy and a secure Labor-led state government, the sky is literally the limit.

Commercial construction kings

Despite supply chain issues, as a leading commercial construction company in Melbourne, MAZ Group are in a solid position and can only get better from here. Are you looking for your next commercial builder in Melbourne? MAZ Group’s recent projects will entice you.

As a leader in commercial construction Melbourne wide, MAZ Group specialises in airport construction, combustible cladding, civil, industrial, fitout and refurbishment, and more.

Why choose MAZ Group for your commercial construction? Read all about it.