With the major opposition party now offering bipartisan support for the proposed new AFL stadium under their new leadership, a major piece of the construction industry environment over the next several years is seemingly locked in, albeit laced with an ongoing squabble with the Federal Government over funding and a proportion of the public vehemently opposed. Although this is par for the course when developing in Tasmania.

The drop-off in population growth in the state, largely exacerbated by a lack of affordable housing, has the potential to threaten all industries with the talk of reduced Government reliance on leased premises also a concern.

The construction sector has seen a return to more sustainable levels of activity, although with future developments on the horizon it feels as though this may only be a temporary reprieve and is perhaps masking the backlog of stalled or upcoming projects. Obviously, the size of the Tasmanian industry can dictate that the gap between a weakened market and one that is overwhelmed can be influenced by only a few large projects. This is expected to be particularly evident when the stadium construction commences.

There has been some encouraging signs recently that the acceleration of social housing projects is under way which will not only seek to address the well documented under supply of housing in the State but also provide a welcome influx of ongoing work for the construction industry for at least the next several years with housing supply targets set to be reached by the end of the decade unlikely to be reached at the current rate of construction.

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Detailed data for each Australian state can be found in the 2024 Handbook & Cost Guide.