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

Author

Listed:
  • Adam Crowe

    (School of Accounting, Economics and Finance, Curtin Business School)

  • Alan S Duncan

    (Bankwest Curtin Economics Centre (BCEC), Curtin University)

  • Steven Rowley

    (School of Accounting, Economics and Finance, 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.

Suggested Citation

  • Adam Crowe & Alan S Duncan & Steven Rowley, 2024. "Building the Dream: The future of Western Australia’s construction industry," Bankwest Curtin Economics Centre Report series FI09, Bankwest Curtin Economics Centre (BCEC), Curtin Business School.
    • Handle: RePEc:ozl:bcecrs:fi09
    as

    Download full text from publisher

    File URL: https://bcec.edu.au/assets/2024/07/BCEC-Building-the-Dream-Report-July-2024-WEB-FINAL.pdf
    Download Restriction: no
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    References listed on IDEAS

    as
    1. Rowley, Steven & Leishman, Chris & Olatunji, Oluwole & Zuo, Jian & Crowe, Adam, 2022. "Understanding how policy settings affect developer decisions," SocArXiv 8e659, Center for Open Science.
    Full references (including those not matched with items on IDEAS)

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      More about this item

      Keywords

      housing supply; housing demand; urban planning; construction costs; housing affordability; skills; excess demand;
      All these keywords.

      JEL classification:

      • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
      • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location
      • N67 - Economic History - - Manufacturing and Construction - - - Africa; Oceania
      • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
      • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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