QLD Quarterly
Construction Cost Update

All eyes remain on public spending BA activity as it charters unprecedented territory.

The rolling data information indicators show it’s taken a slight dip in the last quarter but remains at incredibly high levels. This has been recognised by the State Government, driven by concerns of escalating costs which has prompted a much-needed independent review of Olympic Games infrastructure projects and their value-for-money propositions. Conversely, residential BAs continue a downward trend, albeit still at record high levels compared to pre-Covid times.

The 2023 / 2024 Summer season has wreaked havoc across the Qld coast with cyclones and flooding across the northern coast, and similar down the SE Qld pocket. Storm damage across the state is yet to feed into the insurance work that will absorb trades that crossover into the residential sector and potentially provide a short sharp spike in demand for particular trades such as roofing, cladding, flooring, linings, paint and plaster within the smaller scale developments.

Feasibilities continue to be challenged across large scale multi-residential developments and institutional developments. There is an ease for smaller scale residential developments and industrial projects, however, the key to success is largely through leveraging developer/builder relationships.

2023 was a huge year at Mitchell Brandtman. We are a diverse national team who grew to 104 members.

In our journey to grow and nuture our team and work with our loyal and valued clients, we achieved some great things along the way.

Our team is grateful for your support.

Thank you for being on the 2023 journey with us and we look forward to a fantastic year ahead with more great (and exciting) things to come.

Bring it on!!

Mitchell Brandtman has got you covered…

Now is the time to start thinking about your projects and in particular your obligations prior to Christmas 2023 and your plans for the New Year.

one of the most critical obligations to plan for leading into Christmas are Progress Claims/ Payments. So we have put in place a target date of Wednesday 13th December 2023 being the last day for all site inspections and all progress claim information. This will ensure all reports are completed and issued prior to Christmas shutdown which is the 21st of December 2023 to the 8th of January 2024.

Remember to also discuss payment timing dates with the rest of your project team and specifically, your Financier to ensure obligations can be met through this period.

Looking at commencing construction early in the New Year? To ensure we can cater for your project’s pre-funding requirements, we have set a target date of Friday 1st of December 2023 to receive all required information for Pre-Funding Initial Reports. This will ensure that any new Initial Reports are issued prior to the Christmas shutdown and will help you hit the ground running in 2024.

We understand that with the “silly” season approaching it is not always possible to predict when a report or assessment will need to be done. So if you have any concerns, please do not hesitate to give us a call, right up until COB Wednesday 20th of December 2023 and we will be happy to talk through how we can help. 

Please contact our team at MB to book your Pre-Christmas inspections / reports.

Our office will be closed from 11am Thursday 21st of December 2023 and will re-open on Monday 8th of January 2024. 

We hope you have a very Merry Christmas and a safe and happy holiday.

This Mitchell Brandtman Quarterly Construction Cost Update has been put together to help keep you informed on the movements of the market to better position yourself for your current and future projects.

This Mitchell Brandtman Quarterly Construction Cost Update has been put together to help keep you informed on the movements of the market to better position yourself for your current and future projects.

All markets across Queensland remain hot with the total value of building approvals hitting new peak levels. While the dynamic of project types is shifting, the sheer volume of new work to deliver continues to compound an already frustrated industry. As anticipated, domestic construction has eased slightly with signs of trade level competition emerging, however the public sector commitment has dominated the latest quarter of data and will continue to drive a divide between small and large scale construction activity and pricing.

The record public sector spend will dominate the conversation and attention of our upper tier Contractors, leaving delivery in the private sector challenged from a capacity, capability and feasibility point of view. Activity levels will continue to influence building costs differently across the various sectors and regions as these packages roll out across their local markets.

Opportunities will continue to emerge in the smaller scale, quick to market type product which suits the current risk averse trade sector. Larger and more complex developments will need to approach the market with an open mind for the foreseeable future.

Mitchell Brandtman’s team of experts is ready to help you with your grant applications for the Go For Gold Fund.

Mitchell Brandtman’s team of experts is ready to help you with your grant applications for the Go For Gold Fund.

The Queensland Government has recently announced Round two of the Go for Gold Fund for schools across Queensland. The Fund is open to schools across Queensland for both new and upgraded sports infrastructure on projects such as athletics pitches, multi-purpose courts, ovals, and more. This means it’s the perfect time for schools to consider upgrading or installing new facilities for their students.

Mitchell Brandtman is ready and able to assist with cost advice and estimates for potential projects as part of the grant application. Our team of Quantity Surveyors has extensive experience working on sporting, recreation and education projects, positioning us perfectly to provide an accurate grant estimate for you and your clients.

For further details on how we can help, please contact Partner, Caitlin Shields PH – 07 3327 5034 or E – cshields@mitbrand.com

More information on the Go For Gold Fund is available at https://www.qld.gov.au/about/b…

Financier Education Workshop!

Back by popular demand, we will again this year, be sharing our knowledge with you and your team members at our Financier Education Workshops.

We’ve created a number of education workshops for Financiers who would like to gain a more thorough understanding of what a Quantity Surveyor does and how we assist Financiers and their clients on a project.

After successfully launching our Financiers’ Education Program in 2018, we are excited to  be offering this program again in 2023. Our workshops will be hosted in our Melbourne CBD office on Collins Street and will cover off on topics such as:

–        Costs Verification

–        Authority Approvals

–        Site and Environmental

–        Building Contracts

–        Builders Check

–        Insurances

–        Construction Program and Cash Flow

–        Construction Progress and Payment

Please click on your preferred date below to register.

12th September

28th September

10th October

19th October

24th October

For further information, contact: Kristie Parsons kparsons@mitbrand.com or call 03 9944 3030

We look forward to sharing our knowledge with you.

The Mitchell Brandtman Team.

Mitchell Brandtman is pleased to announce the appointment of Julian Chai as Director in the Melbourne office. 

Julian’s extensive background in the property industry spans more than 32 years, giving the Mitchell Brandtman team access to a wealth of invaluable experience.

As an Associate Director at NAB for the past 21 years, Julian was responsible for construction risk management for Victoria and Tasmania across NAB’s entire construction portfolio, (Business Banking to Corporate and Institutional) making him a fantastic asset to the Mitchell Brandtman team.

Julian joins Alan Tan as Director of our Victorian business member of our National Board.

Congratulations Julian. We know both our clients and our team will benefit from your experience and expertise.