The latest results from the Master Builders National Survey show a positive outlook for Victorian business confidence, with business conditions at a decade high.
This confidence stems from the expectation of ongoing work in the residential sector; work on the books continues to be good, especially in the detached and town-housing sectors.
The residential sector has declined slightly, suggesting that it is past its peak. The results are still positive, however, and well above the national index for current residential activity.
Prospects are improving for the non-residential sector. Current activity is being supported by a relatively healthy queue of work led by Melbourne’s $2.5 billion Collins Square development and the $1.2 billion Merrifield Business Park.
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