Billions of dollars in new building projects a good sign for Sydney’s construction industry, analysts say

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By Josh Bavas via ABC News

Major projects worth billions of dollars in and around Sydney were given the green light last year despite fears for the construction industry.

And while some analysts are predicting a sluggish 2021 in the sector, amid uncertain economic conditions, hopes are high for the coming years.

The Master Builders Association is predicting non-residential building works like shops, offices and commercial space to reduce about 18 per cent throughout this financial year.

But chief economist Shane Garrett thinks the long-term viability of the projects “is pretty secure”.

“They will reach their completion stage in a fairly healthy economic environment which is moving in the right direction at a fast pace.

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