Economic and construction market update
It’s a turbulent time in the construction industry right now.
Inflation is at its highest in two decades, leading to the first interest rate rise in over one decade. Supply chain issues continue to bite with price escalation showing no signs of slowing. Construction insolvencies are on the rise, with more expected on the horizon. And skills shortage, which have been an issue for some time, are being intensified by the increased demand resulting from the rebuilding efforts after the February floods.
Even geopolitical risks abound, with Russia’s invasion of Ukraine and the ongoing tensions with China both having a tangible impact.
Against such a backdrop, there is a lot of uncertainty about how the market is going to this respond to this mishmash of macroeconomic and microeconomic forces, not to mention the political and geopolitical context.
But it might surprise you to know that it’s not all doom and gloom, and there are reasons to be more positive than some of the headlines suggest.
To help you make sense of it all, we are hosting a members’ briefing with two of Queensland’s leading experts in industry economics and construction law.
AMCA Member : Free
RACCA Member: $44 (inc GST)
Non Member: $55 (inc GST)
Robert Sobyra is the Director of Research and Digital at Construction Skills Queensland, where he oversees a research agenda to help all industry stakeholders—employers, workers, apprentices, trainees, and career seekers—plan and make better decisions for their future. With a special interest in the future of work, skills, and training, Rob is widely renowned as one of Queensland’s leading thinkers on construction economics and workforce planning.
Matt Bradbury, a partner at respected law firm McCullough Robertson, is recognised as one of Australia’s leading construction and infrastructure lawyers with a focus on risk mitigation and administration of contracts. He is passionate about working side by side with clients to successfully deliver their projects, and he was recently awarded the Lexology Client Choice Award in London for outstanding client service for Construction Law in Australia.
Rob will provide an overview of the current economic trends driving the construction market in Queensland and forecast what to expect in coming months.
Matt will then speak about how the risks posed by the current economic climate are impacting the Queensland building and construction market, and how these risks can be managed by taking a proactive and pragmatic approach to your contractual relationships with clients and suppliers.
We will finish with a Q&A session whereby we will take audience questions.
Please join us.