Building the Dream: The future of Western Australia’s construction industry

Adam Crowe, Alan Duncan and Steven Rowley
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Adam Crowe: School of Accounting, Economics and Finance, Curtin Business School

No FI09, Bankwest Curtin Economics Centre Report series from Bankwest Curtin Economics Centre (BCEC), Curtin Business School

Abstract: Building the Dream, the ninth report in the BCEC Focus on Industry series, reveals that at current rates of dwelling completion, Western Australia (WA) will fall well short of the National Accord target of 25,000 new dwelling units per year. The WA construction sector has faced significant challenges from skills shortages, including the loss of workers to other industries or states, fluctuating dwelling approvals, high material costs, and contracting arrangement that have placed enormous pressure on the viability of property development projects. These issues have eroded the capacity of the sector to meet unprecedented levels of housing demand. However, should these issues be addressed, the sector has the potential to contribute significantly to the state’s economic, social and environmental progress. The report suggests recommendations to address workforce shortages, alongside more efficient use of existing housing stock, increasing the diversity of available housing options in WA, and the sector’s contributions to net zero.

Keywords: housing supply; housing demand; urban planning; construction costs; housing affordability; skills; excess demand (search for similar items in EconPapers)
JEL-codes: L74 N67 R21 R3 R31 (search for similar items in EconPapers)
Pages: 100 pages
Date: 2024-07
New Economics Papers: this item is included in nep-ure
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https://bcec.edu.au/assets/2024/07/BCEC-Building-t ... y-2024-WEB-FINAL.pdf (application/pdf)

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