The housing and construction industry impacts on the lives of all Tasmanians. This industry provides the homes in which we live, the places in which most of us work and play, our schools and hospitals, and infrastructure such as roads, bridges, electricity supply and telecommunications.
The housing and construction industry is usually the first sector to show signs of recovery after an economic downturn. The amount of building activity undertaken is affected by economic circumstances, and the reduction in interest rates on housing and commercial loans appears to increase activity.
Building activity is significant to the whole economy, most noticeably the manufacturing, wholesale and retail trade, and finance sectors. Parts of the professional services industry, such as the architectural and engineering professions, are also closely linked to the construction industry.