The construction industry is booming and Mirvac's answer to the tradie shortage currently being experienced are prefab walls, which have been proven to cut residential construction times by at least 10 weeks. New to Australia (but used in the UK for decades), this product may create further job anxiety for tradies who have recently protested against Australia's free trade agreement with China, with concerns regarding safety standards. Hopefully the residential sector continues the strong growth already shown this year, providing an abundance of work for industry workers.
Housing construction is one bright spot in an economy struggling for direction as the commodities boom winds down. In the 12 months to June, building approvals rose 8.6 per cent, according to the Australian Bureau of Statistics. Driven principally by Sydney and Melbourne, there will be an estimated 200,000 new dwellings started this financial year. Haller says the adoption of prefabricated housing components is disrupting the construction industry worldwide, and Australia is lagging.