Any downturn in the construction industry could trigger job losses in a range of sectors that support the building industry, such as planning, project management, real estate, and property services. This threat reveals the risk of relying on building and construction to sustain the economy.
Before the global financial crisis, urban economies across the world relied increasingly on the construction of housing, especially high-rise urban apartments, to maintain economic activity.
Construction has boomed in Australia, especially in Melbourne and Sydney. Migration from overseas and interstate, as well as international student numbers, have so far maintained sufficient demand for city apartments and suburban houses to keep the building boom going.