Victorian builders and construction companies have a renewed sense of confidence in our economy, the industry and their own businesses, according to Master Builders’ latest quarterly sentiment and conditions survey.

The survey was conducted in March before the State and Federal Government handed down budgets allocating billions of dollars to major projects that will boost activity in our local industry, particularly the commercial and civil sectors. More than 150 members in Victoria participated in the survey, which acts as a major lobbying tool for Master Builders.

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The headline results paint a positive picture for the industry, coming off tough times in many sectors across parts of Melbourne and regional Victoria. Our latest research shows:

 

  • Victorian builders are more confident about our community’s short-term economic prospects than at any other time since late 2009;
  • In 23 of the past 24 quarters, builders in Victoria feel more confident about our current economy than those in other states;
  • Confidence in how your industry will perform over the next six months is now at its highest point since the September 2009 quarter; and
  • Builders’ expectations for their own businesses are as good as we have seen since mid-2010.

 

Pleasingly, builders and construction companies are also reporting improvements to the amount of work they have on their books, on their profitability and on display centre traffic as well as commercial enquiries.

With record low official interest rates helping stimulate interest in home building, renovating and extensions projects combined with governments injecting billions into infrastructure projects, builders have every right to feel optimistic about the future.

You can access our full report here to see how your experiences compare to others working in your sector.

Master Builders is currently undertaking its regular members’ survey for the June quarter. Make sure you check your inbox for the survey and help us raise the profile of your industry.