UDIA NSW concerned about future of NSW economic performance

NSW dwelling commencements, housing finance and an increase in construction work in the June quarter, have all resulted in NSW moving up from 7th  to 5th place in the quarterly CommSec, State of the States report. Homebuilding and construction are major economic multipliers. The current lockdown and construction pause is doing severe damage to the NSW economy with hundreds of thousands of jobs at stake.

“The improvement in the NSW economy – immediately prior to the construction pause – has given a clear indication of how essential the homebuilding and construction industry is to the NSW economy.” said Steve Mann, CEO, UDIA NSW.

“We need to get construction re-started on all sites by July 31st, with a ramp-up to save jobs in construction, manufacturing and supply. UDIA has been working with the NSW Government on enhancing the construction industries COVID safe measures for the re-opening. We can re-start construction without creating a surge in COVID cases and keep a major part of the NSW economy moving, protecting hundreds of thousands of jobs and livelihoods.” he added.

ENDS

Media Enquiries:
Deanna Lane 0416 295 898 or dlane@udiansw.com.au.
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