Australia Construction Market Overview
Australia's residential construction market is currently contracting, with housing starts of 170K in 2023 — 2% below the 10-year average of 173K.
The country's recorded peak was 194K units in 2021. Current activity is -12% below that peak.
Among the 21 OECD countries tracked, Australia ranks #9 by total housing starts. Year-over-year change is -10.2%, reflecting declining permits and reduced construction activity.
For contractors working in Australia: A contracting market may create opportunities to negotiate better material pricing or lock in subcontractor rates.