Published Wednesday, February 26, 2020 / By Gary Montgomery
With 2019 coming to a close, residential construction professionals may be thinking about how to level up their careers in the coming year. This prospect may seem daunting, considering that home building has recently gone through quite a slump. Fewer houses were being built thanks to home prices dropping. This has caused many in the sector to suspect that there aren’t as many opportunities available. However, there’s good news to share: the industry is about to experience a big influx in demand, projects, and jobs.
Fewer houses were being built thanks to home prices dropping. This has caused many in the sector to suspect that there aren’t as many opportunities available. However, there’s good news to share: the industry is about to experience a big influx in demand, projects, and jobs.
The home build sector is already preparing itself for a major uptick, anticipating a number of stimulating changes.
A rebound is on the way. Analysts predict a national recovery of about 5.4%, and in hotspots like Sydney, a 7.7% surge. This trend of growth is expected to continue on through 2021. Rising home prices will create a market in which it is much more appealing for developers to build new homes.
Additionally, demand for housing continues to swell. Between staggering rates of migration and creation of many new jobs, there is a huge need for housing in Australia. New transport infrastructure projects are also opening up new residential areas that can be developed along the commute to city centers. All of this has led experts to believe that over the next 5 years, home building will approach its previous peak.
As new projects are slated for development, contractors will start winning more tenders throughout the early months of 2020. This sets the timeline so that contractors will begin heavily sourcing new recruits to join their teams by the middle of the year. Despite the slow momentum, talent can count on the year maturing with a much higher demand for their skills.
We expect the increase in job vacancies to sweep through the industry in stages:
If you’re ready for your construction career to reach new heights, our team is here to help. Core Talent has the connections and resources to help you find the perfect new position in 2020.
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