National Workforce Development Fund good news for property industry

The Federal Government recently announced its National Workforce Development Fund – a $558 million package that aims to develop the sectors of the Australian workforce that are deemed to have a  shortage of skilled labour.

And it looks as though the residential property market is set to benefit from the funding, with $25 million of the funds committed to support training in the construction industry.  This should be a good step for the construction industry and in preparing the property sector for Australia’s expected future housing demand. 

According to CENTURY 21 Australia’s Chairman and Owner, Charles Tarbey, Australia has a well documented shortage of both housing and tradespeople in many areas.  In his view, dedicating funds to address the skills shortage in the housing industry will help Australia to rise to meet the considerable anticipated demand for housing. 

The Fund has identified construction as a priority sector that is experiencing strong growth, due in part to the continued demand for housing associated with population growth.  2011-12 will see the Fund allocate $73 million, of which $25 million will go to the Construction industry sector. 

The Government has also allocated funding to projects that develop clean energy skills in the construction sector, among other sectors.  In Charles’ opinion this is a good move, as with both rising energy costs and sustainability being front of mind for many people, he expects that energy efficient construction will likely become more of a concern and priority for Australian home builders and buyers. 

“Funds to develop these skills now should help to prepare our construction industry to cater to this growing requirement,” said Charles Tarbey. 

Hopefully the effects of these funds will be seen in the property industry soon, particularly in those locations that would benefit most from the construction of housing, such as areas rich in resources that are expecting strong population growth. 
 

Posted by Charles Tarbey on 29/08/2011 at 9:08 AM | Categories:

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