Impacts of COVID-19 pandemic on construction costs in Australia

Syed Rizvi; Augustine Kukah; Xiaohua Jin; Srinath Perera

doi:10.1007/978-981-97-1949-5_35

Impacts of COVID-19 pandemic on construction costs in Australia

School of Engineering, Design & Built Environment

Western Sydney University

Research output: Chapter in Book / Conference Paper › Chapter › peer-review

1 Citation (Scopus)

Abstract

The emergence of Corona Virus Disease 2019 (COVID-19) pandemic has conclusively impacted global economies. This study conducted a systematic literature review to assess the impact of COVID-19 pandemic on construction costs in Australia. Upon the review of multiple sources, it was conclusively found that construction costs had blown out of proportion and many Australian projects were struggling. From the findings, many Australian construction businesses to be operating at a loss, major companies falling to the rising costs with many more liquidations to occur in the coming months, and the shortage of skilled construction professionals anticipated to be felt throughout till 2025. Despite these findings, future research can also be conducted into two areas to foresee if the costs that continue to rise are purely due to the COVID-19 pandemic or not. This can be done by assessing if the Ukraine and Russian war post pandemic has played a role in these costs and how the Australian weather through the last 12-24 months has impacted the progress on construction job sites.

Original language	English
Title of host publication	Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate
Editors	Dezhi Li, Patrick X. W. Zou, Jingfeng Yuan, Qian Wang, Yi Peng
Place of Publication	Singapore
Publisher	Springer
Chapter	35
Pages	505-516
Number of pages	12
ISBN (Electronic)	9789819719495
ISBN (Print)	9789819719488
DOIs	https://doi.org/10.1007/978-981-97-1949-5_35
Publication status	Published - 2024

Publication series

Name	Lecture Notes in Operations Research
Volume	Part F4842
ISSN (Print)	2731-040X
ISSN (Electronic)	2731-0418

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 11 Sustainable Cities and Communities
SDG 17 Partnerships for the Goals

Keywords

Australia
Construction costs
COVID-19
Impact

Access to Document

10.1007/978-981-97-1949-5_35

Cite this

Rizvi, S., Kukah, A., Jin, X., & Perera, S. (2024). Impacts of COVID-19 pandemic on construction costs in Australia. In D. Li, P. X. W. Zou, J. Yuan, Q. Wang, & Y. Peng (Eds.), Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate (pp. 505-516). (Lecture Notes in Operations Research; Vol. Part F4842). Springer. https://doi.org/10.1007/978-981-97-1949-5_35

Rizvi, Syed ; Kukah, Augustine ; Jin, Xiaohua et al. / Impacts of COVID-19 pandemic on construction costs in Australia. Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate. editor / Dezhi Li ; Patrick X. W. Zou ; Jingfeng Yuan ; Qian Wang ; Yi Peng. Singapore : Springer, 2024. pp. 505-516 (Lecture Notes in Operations Research).

@inbook{b80a8bef1e9b4c5c8866722d9e8ddb93,

title = "Impacts of COVID-19 pandemic on construction costs in Australia",

abstract = "The emergence of Corona Virus Disease 2019 (COVID-19) pandemic has conclusively impacted global economies. This study conducted a systematic literature review to assess the impact of COVID-19 pandemic on construction costs in Australia. Upon the review of multiple sources, it was conclusively found that construction costs had blown out of proportion and many Australian projects were struggling. From the findings, many Australian construction businesses to be operating at a loss, major companies falling to the rising costs with many more liquidations to occur in the coming months, and the shortage of skilled construction professionals anticipated to be felt throughout till 2025. Despite these findings, future research can also be conducted into two areas to foresee if the costs that continue to rise are purely due to the COVID-19 pandemic or not. This can be done by assessing if the Ukraine and Russian war post pandemic has played a role in these costs and how the Australian weather through the last 12-24 months has impacted the progress on construction job sites.",

keywords = "Australia, Construction costs, COVID-19, Impact",

author = "Syed Rizvi and Augustine Kukah and Xiaohua Jin and Srinath Perera",

year = "2024",

doi = "10.1007/978-981-97-1949-5\_35",

language = "English",

isbn = "9789819719488",

series = "Lecture Notes in Operations Research",

publisher = "Springer",

pages = "505--516",

editor = "Dezhi Li and Zou, \{Patrick X. W.\} and Jingfeng Yuan and Qian Wang and Yi Peng",

booktitle = "Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate",

}

Rizvi, S, Kukah, A , Jin, X & Perera, S 2024, Impacts of COVID-19 pandemic on construction costs in Australia. in D Li, PXW Zou, J Yuan, Q Wang & Y Peng (eds), Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate. Lecture Notes in Operations Research, vol. Part F4842, Springer, Singapore, pp. 505-516. https://doi.org/10.1007/978-981-97-1949-5_35

Impacts of COVID-19 pandemic on construction costs in Australia. / Rizvi, Syed; Kukah, Augustine ; Jin, Xiaohua et al.
Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate. ed. / Dezhi Li; Patrick X. W. Zou; Jingfeng Yuan; Qian Wang; Yi Peng. Singapore: Springer, 2024. p. 505-516 (Lecture Notes in Operations Research; Vol. Part F4842).

Research output: Chapter in Book / Conference Paper › Chapter › peer-review

TY - CHAP

T1 - Impacts of COVID-19 pandemic on construction costs in Australia

AU - Rizvi, Syed

AU - Kukah, Augustine

AU - Jin, Xiaohua

AU - Perera, Srinath

PY - 2024

Y1 - 2024

N2 - The emergence of Corona Virus Disease 2019 (COVID-19) pandemic has conclusively impacted global economies. This study conducted a systematic literature review to assess the impact of COVID-19 pandemic on construction costs in Australia. Upon the review of multiple sources, it was conclusively found that construction costs had blown out of proportion and many Australian projects were struggling. From the findings, many Australian construction businesses to be operating at a loss, major companies falling to the rising costs with many more liquidations to occur in the coming months, and the shortage of skilled construction professionals anticipated to be felt throughout till 2025. Despite these findings, future research can also be conducted into two areas to foresee if the costs that continue to rise are purely due to the COVID-19 pandemic or not. This can be done by assessing if the Ukraine and Russian war post pandemic has played a role in these costs and how the Australian weather through the last 12-24 months has impacted the progress on construction job sites.

AB - The emergence of Corona Virus Disease 2019 (COVID-19) pandemic has conclusively impacted global economies. This study conducted a systematic literature review to assess the impact of COVID-19 pandemic on construction costs in Australia. Upon the review of multiple sources, it was conclusively found that construction costs had blown out of proportion and many Australian projects were struggling. From the findings, many Australian construction businesses to be operating at a loss, major companies falling to the rising costs with many more liquidations to occur in the coming months, and the shortage of skilled construction professionals anticipated to be felt throughout till 2025. Despite these findings, future research can also be conducted into two areas to foresee if the costs that continue to rise are purely due to the COVID-19 pandemic or not. This can be done by assessing if the Ukraine and Russian war post pandemic has played a role in these costs and how the Australian weather through the last 12-24 months has impacted the progress on construction job sites.

KW - Australia

KW - Construction costs

KW - COVID-19

KW - Impact

UR - https://www.scopus.com/pages/publications/105009216235

U2 - 10.1007/978-981-97-1949-5_35

DO - 10.1007/978-981-97-1949-5_35

M3 - Chapter

AN - SCOPUS:105009216235

SN - 9789819719488

T3 - Lecture Notes in Operations Research

SP - 505

EP - 516

BT - Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate

A2 - Li, Dezhi

A2 - Zou, Patrick X. W.

A2 - Yuan, Jingfeng

A2 - Wang, Qian

A2 - Peng, Yi

PB - Springer

CY - Singapore

ER -

Rizvi S, Kukah A , Jin X , Perera S. Impacts of COVID-19 pandemic on construction costs in Australia. In Li D, Zou PXW, Yuan J, Wang Q, Peng Y, editors, Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate. Singapore: Springer. 2024. p. 505-516. (Lecture Notes in Operations Research). doi: 10.1007/978-981-97-1949-5_35

Impacts of COVID-19 pandemic on construction costs in Australia

Abstract

Publication series

UN SDGs

Keywords

Access to Document

Other files and links

Fingerprint

Cite this