Report: WA leads the way in construction

Posted: 2012-02-02

It may not come as a surprise to those working in the mining and resources sector, but new research shows that more than 25 per cent of all construction in Australia takes place in Western Australia.

The report, which was released by Deloitte Access Economics on Wednesday (February 1), shows that one third of new building projects are under-construction in the mineral-rich state.

When combined the total value of work in the region is currently being valued at $140.1 billion, which is well ahead of any other state or territory.

Results are based on an assets and investment report for December last year, which also revealed that more than $267.2 billion worth of future developments are in the pipeline.

Yet despite recent gains the state government is still concerned about the economic security of the region.

"If the present Labor commonwealth government carries the federal treasurer's threats to reduce WA's GST grant funding and to penalise growth states for earning royalty income, we will be left without means in which to ensure these sectors continue to grow," said WA treasurer Christian Porter.

Businesses taking on large-scale projects in WA may benefit from updating their construction insurance in order to find additional savings.