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Builders "cautiously optimistic" for 2011
Released 7 February 2011

The latest survey from Master Builders Australia reports that despite business conditions remaining essentially unchanged during the December quarter, its members were “cautiously optimistic” about the near-term future of the building and construction industry.  

Master Builders Australia Chief Economist, Peter Jones, says builders expect activity to improve. “Encouragingly, the results of this survey indicate that builders are now less likely to reduce their workforce in the period ahead.”

He adds: “Both residential and non-residential sectors remained below par in the December quarter, although builders may be becoming slightly more ambivalent than first thought about the prospect of losing schools and social housing projects over the next six months.”

Based on the survey results, Peter says Master Builders Australia will urge the Reserve Bank to keep interest rates on hold “until a private sector recovery in the building industry can regain momentum”.