Century 21, the largest real estate company in the Asia Pacific region, believes that the $25 million recently committed by the Federal Government to support training in the construction industry is both a good step for the construction industry and preparing the property sector for expected future housing demand.
Australia has a well documented shortage of both housing and tradespeople in many areas.
Dedicating funds to address the skills shortage in the construction industry will help Australia to rise to meet the considerable anticipated demand for housing.
The Federal Government’s $558 million National Workforce Development Fund has identified construction as a priority sector experiencing strong growth due in part to the continued demand for housing associated with population growth.
Of the $73 million allocated in the 2011-12 round of the Fund, $25 million will go to the Construction industry sector.
Funding will also be allocated to projects that develop clean energy skills in the construction sector and other sectors.
With both rising energy costs and sustainability front of mind for many, we expect that energy efficient construction will likely become more of a concern and priority for Australian home builders and buyers.
Funding to develop these skills now should help to prepare our construction industry to cater to this growing requirement.