IA push for construction investment

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A new wave of investment is needed to ensure our quality of life and economic productivity over the next 15 years, according to Infrastructure Australia’s 2019 Australian Infrastructure Audit

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The 2019 Australian Infrastructure Audit presents a forward-looking view of the nation’s infrastructure challenges and opportunities over the next 15 years and beyond.

A healthy and efficient construction sector is relied upon to deliver infrastructure projects on time and on budget.

More than $123 billion of construction work has commenced since 2015, with a committed forward pipeline of over $200 billion.

"Despite this, the 2019 Audit finds that infrastructure in Sydney, Melbourne, Brisbane and Perth is failing to keep pace with rapid population growth, particularly on the urban fringe," independent infrastructure advisor Infrastructure Australia’s Chair Julieanne Alroe says.

With Australia’s population projected to grow by 24 per cent to reach 31.4 million by 2034; Australia’s largest cities are expected to see pressure on access to infrastructure.

"The dominance of infill development in Sydney, Melbourne and Brisbane will require investment in high capacity public transport, enhancements to existing energy and water infrastructure, improved shared spaces and a renewal of inner city health and education services," she says.

Greenfield development will see pressure on their road networks, as well as expansion of utility networks. For industry, well-targeted infrastructure investment is critical to support international competitiveness.

"Changing and growing demand is putting unprecedented pressure on the infrastructure services each and every Australian relies on," she says.

"The current infrastructure program must deliver long-term changes to the way we plan, fund and deliver infrastructure.

"The historic level of activity we are seeing in the sector must, and is likely, to continue for the next 15 years and potentially beyond. This must be the new normal if we are to meet the challenges and opportunities ahead."

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