Industry Analysis & Industry Trends
The Architectural Services industry has endured a tough five years due to a prolonged downturn in the construction market. Over the last five years, the winding back of educational building investment and weak housing construction markets have led to subdued demand for industry services. Revenue is estimated to rise by just 0.5% annualised over the five years through 2014-15, corresponding with a slump in the value of total building construction.
The key building markets for architectural services have displayed divergent trends over the past five years. In the non-residential building market, the value of institutional building has benefited from the injection of federal funding for school refurbishment under the Building the Education Revolution (BER) program... purchase to read more
Industry Report - Industry Analysis Chapter
Over the past five years, the Architectural Services industry has been constrained by the slump in commercial building activity, subdued housing investment and the subsequent poor demand for design services in these markets. Architects are also facing greater competition from large engineering consultancy firms and building contractors with in-house architectural design capacity. Profit margins are being squeezed as developers look to save on project design costs and off-load project risk onto architects.
Industry revenue is projected to rise by an annualised 0.5% over the five years through 2014-15, to total $6.4 billion. Revenue is expected to rise by 2.0% during 2014-15, as record low interest rates positively affect the housing market... purchase to read more