{"id":87021,"date":"2024-10-01T07:27:08","date_gmt":"2024-09-30T21:27:08","guid":{"rendered":"https:\/\/www.bcicentral.com\/?p=87021"},"modified":"2024-10-31T13:01:46","modified_gmt":"2024-10-31T02:01:46","slug":"multi-residential-sector-snapshot-report-in-australia","status":"publish","type":"post","link":"https:\/\/www.bcicentral.com\/th\/multi-residential-sector-snapshot-report-in-australia\/","title":{"rendered":"Multi-Residential Sector Snapshot Report in Australia 2024"},"content":{"rendered":"

BCI\u2019s Multi-Residential Sector Snapshot report in Australia captures the total number and value of active projects across the country, as of October 2024.<\/span>\u00a0<\/span><\/p>\n

Multi-Residential Sector Analysis in Australia 2024<\/span>\u00a0<\/span><\/h2>\n

As reported by BCI, over the last year there has been a decline in the number of applications submitted and approved for multi-residential buildings: -15.56% and -17.15% respectively. There has been a corresponding decline in main contractors appointed to projects (-13.96%) and commencement of main works (-10.96%). Overall, looking at statistics over the last five years, the average time between design approval and construction start is approximately 20 months.<\/span>\u00a0<\/span><\/p>\n

Australia\u2019s multi-residential sector has 10,026 active construction projects totalling over 276 billion AUD. Most of these projects, in terms of value (58.46%) and number (78.60%), are at the Design & Documentation stage, where development applications are being submitted, and construction certificates are being approved. While many multi-dwelling properties are in the design pipeline, only 1,375 are currently at the construction stage with a main contractor on site.<\/span>\u00a0<\/span><\/p>\n

Looking at the projects broken down by state, we can see that VIC\/TAS\/SA has the greatest number of projects (5,222), but it is NSW\/ACT that leads the charge, with 3,314 active multi-residential projects valued at a combined 138.61 billion AUD. Comparatively, over on the west coast, there are only 402 multi-residential builds totalling 12.54 billion AUD.<\/span>\u00a0<\/span><\/p>\n

Key Market Players in the Multi-Residential Sector<\/span>\u00a0<\/span><\/h2>\n

Our Sector Snapshot report ranks the leading developers, architects and builders based on their total construction project value over the past 12 months, as reported by BCI Central. Grange Development, Turner Studio \u2013 Sydney, and Karimbia Construction Services (NSW) Pty Ltd ranked as the top developer, architect and builder respectively.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

Discover the <\/span>complete list of the top three developers, architects and builders in our Multi-Residential Sector Snapshot report<\/span><\/a> in Australia 2024.<\/span>\u00a0<\/span><\/p>\n

Gifford Hill – Featured Multi-Residential Project<\/span>\u00a0<\/span><\/h3>\n