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9% of Australians work in construction, so where are all the new homes?
Topic Started: 22 Oct 2014, 08:47 PM (547 Views)
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One in Every Eleven Australian Workers are in Construction

20th October, 2014

Credit-fuelled property bubbles always seem to form right in front of a populations very eye only to be over-shadowed by powerful pundits in the public eye with vested interest.

With the so-called housing shortage being the primary argument in favour of why house prices in Australia are so high, we must look at the simple stats. This includes understanding how many employees are working/building in an industry where there is an apparent shortage of supply.

– One in every eleven employees (1.029million) in Australia are in the construction sector.

– In Sydney alone there are more than 175,000 construction workers.

-Based on ABS 2009 statistics at least 70% of construction workers in Australia are involved one way or another in residential construction and completion services.

-Australia builds a new resident dwelling for every 1.88 new residents. A much faster rate than liberal land acquisition locales such as Texas where they build a new dwelling for every 2.20 new residents (source: Soos & Egan). So where are all the new houses and apartments? They are everywhere.

As I state very clear in my book ‘Australia: Boom to Bust’, there is no shortage of housing stock or land in Australia. But a chronic oversupply of toxic debt which has fuelled the property market.

The first table below shows how many Australians and NSW residents are employed in the construction sector versus other industries. The second chart shows household debt spiralling out of control in Australia.

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Read more: http://blog.australiaboomtobust.com/2014/10/1-every-11-australian-workers-construction/
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In WA most where employed outside of residential... That is about to change.
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