Lawyers have been peering into the crystal ball to get predictions for the construction industry.
With more than 1.1 million Australians employed in construction, it was important to unpack what legislative changes and technology innovations would mean for the sector, said Helix Legal consultant Michael Chesterman .
Here’s what he’s come up with for the next 12 months.
- Technology disruption
“Construction is one of the few industries yet to experience major disruption through technology, and in 2018, we can expect it.
We’ll see construction technology and construction-software startups make their way further into the Australian market.
From apps to drones and wearables to 3-D printing, innovation is making its way into construction and can provide everything from cost-cutting benefits to companies through to an increased focus on safety.”
- It’s more than Apps
“StartupAUS estimates Aussie ConstructionTech startups have attracted at least $98 million in investment since the start of 2016.
With global construction output set to reach US$15.5 trillion by 2030, the pace of innovation and technology in the construction industry needs government and established industry participants to keep up.
But innovation is not just about apps, it’s about a sustainable and workable regulatory framework where new ideas are responded to with a combination of an open mind and responsible regulation – and we expect to see more of this in the New Year.”
- Project bank accounts are coming
“Many in the industry have no doubt heard the noise about the far reaching reforms and many have a general understanding of the concepts and reasoning behind them.
In 2018 and Project bank accounts will be a reality for the industry in Queensland. In fact, those that work on Government Projects can expect project bank accounts as early as January 2018.”
- Zero tolerance for dodgy building products
“We were all left horrified by the Grenfell Tower fire in London in 2017 and the Queensland Government has taken strong steps to protect against a tragic turn of events here with the changes introduced to stop the use of non-confirming building products. ‘Don’t ask, don’t tell’ won’t cut it anymore in Queensland.”
- Power to subcontractors
“Subcontractors in Queensland will commence the new year with the backing legislation intended to put them back in the driver’s seat in getting paid. Bad behaviour is on the out in 2018.”
