New Report Reveals Perth Construction Workers Are Among The Highest Paid In The World
A new report from British consultancy service Turner & Townsend has revealed that Perth’s construction workers are among some of the highest paid in the world.
The annual International Construction Market Survey “takes stock of how the construction industry is performing,” examinging 88 markets across 42 different countries.
With regards to construction labour costs, the report revealed Australian and New Zealand have recorded a 6.5 per cent increase over the past year and an overall increase of 28 per cent since 2019.
This was largely due to the loss of skilled migration over the course of the pandemic, the report said, which in turn “pushed up labour costs, making it the second most expensive region for construction labour.”
In dollar figures this has amounted to Perth’s construction workforce’s average hourly wage reaching just over $117 per hour, second in Australia behind only Melbourne ($124), and ahead of Brisbane ($111), Sydney ($106) and Adelaide ($98).
Geneva, in Switzerland, had the highest hourly salary at a whopping $175.50, following by Zurich, San Francisco and New York.
The report also noted that Perth’s “global tendering conditions and market outlook” had shifted from “warm” to “hot”, driven by a significant investment in public infrastrcture.
“Australia and New Zealand are seeing higher construction costs driven by higher material prices, labour shortages and extended projects schedules,” said Turner & Townsend Managing Director WA, Matt Billingham.
“The construction sectors in Queensland and West Australia are operating at full capacity and reduced competition is pushing prices higher.”
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