The latest figures from the Australian Bureau of Statistics show that construction activity was down 0.3 per cent in the second quarter of the year, with the market worth $50.78 billion.
This is by no means a startling drop, and given the widespread economic conditions, shows a relatively steady industry. The amount of building work that had been completed was down only 0.1 per cent, and non-residential construction was down 0.5 per cent.
For many, these figures are the sign of a turning point. In the near future, experts say construction will rise again, bringing demand for heavy machinery and equipment like concrete mixers and access equipment back up with it.
This is evidenced by a new report released by the Housing Industry of Australia, which shows that houses are becoming more affordable in suburbs than they have been in three years.
"These are the areas of Australia where, not coincidentally, a clear new home building recovery is underway," said HIA chief economist Harley Dale.
A pickup in residential construction will spur demand for skilled trade workers, as well as construction employment overall.