The post Buildxact diversifies leadership as it grows North American team, expands globally appeared first on Buildxact AU.

ORLANDO, Feb. 8, 2022 – Buildxact, a global SaaS company that provides a simple solution for residential builders and remodelers to better manage and grow their business, was awarded the silver medal in the Construction Management Software category at The Nationals^SM Awards during the National Association of Home Builders (NAHB) 2022 International Builders Show (IBS). 

“This recognition by NAHB of Buildxact’s industry-leading software is validation of the value we are providing to the residential construction industry,” said Buildxact CEO David Murray. “To come second to a global leader in James Hardie is an enormous achievement for our company as we expand globally.” 

The annual award program recognizes the most cutting-edge, advanced and original products, services, homes, communities and champions of the building industry from around the world. Award winners are those companies and individuals that have exceeded expectations by reaching out to connect with the construction industry and improve the world, according to the NAHB website.  

“We are honored and excited to be among the 2022 award winners,” said Murray. “This award recognizes the dedication our global team has for our customers. We are all about helping custom builders and contractors take the hassle out of running their business, so they have more time to do what they do best.” 

A few months ago, the construction tech player announced a significant launch designed to capture a new segment of the residential construction market, becoming the first provider in the world to connect builders with dealers through one central platform. 

About Buildxact

Buildxact gives custom home builders, remodelers and dealers control of their business to get the job done. With easy-to-use features, job estimates take less time and ordering supplies is possible 24/7 using online price lists. Founded in 2011, Buildxact does business in Australia, New Zealand, Canada and the United States. The company recently secured US$14 million in capital investment to boost its growing presence in North America and expansion into the United Kingdom in 2022.

About The Nationals^SM

The Nationals^SM includes nominees from The Best of 55+ Housing Awards, Global Innovation Awards and NAHB Honors. The Best of 55+ Awards celebrates the fastest-growing niche in home building with the 55+ sector’s only national recognition program. The Global Innovation Awards celebrates the innovative projects, products and services disrupting the global residential building industry.

The competition is presented by the National Sales and Marketing Council (NSMC), a council of the National Association of Home Builders (NAHB).

Buildxact contact:

Marissa Wagner
marissaw@buildxact.com 
(210) 287- 6043 

The post Buildxact Software takes Silver at the NAHB Nationals during IBS 2022 appeared first on Buildxact AU.

ORLANDO, Feb. 07, 2022 – Buildxact, a global SaaS company providing a simple solution for residential builders to better manage and grow their business, will demonstrate at the 2022 NAHB International Builders’ Show in Orlando, Florida. Attendees will learn how dealers and builders increasingly use software to help each other win more jobs amid climbing material prices and a tight labor market. 

Demonstrations and conversations with industry leaders about this trend and other digital innovations will be held at the Buildxact booth, #W6871. Using Buildxact, custom home builders are reducing the time it takes to complete painstaking, manual tasks like material takeoffs by as much as 80%. 

“We have worked with many builders who today have greater understanding and transparency into how their business runs and as a result are winning more jobs. They are free from the office and out on the job getting more of what truly matters done,” David Murray, Buildxact CEO, said. “At this year’s Builders’ Show, we will show them how our latest product developments extend productivity to their dealer.”  

Successful dealers are now integrating material pricing directly into the Buildxact platform. Builders are free to research and send orders to their dealer at a time most convenient to them. And a recent integration with Epicor BisTrack makes it straightforward, as dealers can now use their familiar ERP to upload up-to-date price lists and process orders. This integration carries several benefits:

• Up to 5x less time needed for dealers and builders to send customer quotes
• Increased accuracy of orders as need for follow-up phone calls and emails drops 
• More time available for dealer, builder project planning and consultation 

 The media is invited to Buildxact’s press event on Wednesday 2/9 from 7:30-8:30 a.m. in the booth for interviews and more details regarding this new product feature. Media and interested builders and dealers can also join the Buildxact team each day to hear about this latest price integration feature and how fully integrated cloud-based tools from Buildxact can help builders manage projects end-to-end; from preparing quotes and estimates to tracking profitability using online financial dashboards.  

Buildxact will also host a daily Job. Done. Happy Hour in their booth, which will spotlight thought leadership discussions on how builders can stay abreast of the latest trends. 

Tuesday 2/8 3-5 p.m. 

DEI: Transforming Culture to Transform Business 

Panel: Christi Powell, Women Minority Business Enterprise Market Manager- 84 Lumber 

Deryl Patterson, President – Housing Design Matters 

Monica Wheaton, Director of Customer Success, Residential Home Construction –  ECI Software Solutions, Inc. 

Wednesday 2/9 3-5 p.m.  

2022 Housing and Remodeling Forecast  

Speaker: Mark Boud, Real Estate Economist- Robbins Boud Real Estate Analytics

Thursday 2/10 12-2 p.m. 

2022 Challenge: Build Strong Relationships  

Speakers: Steve Yates, EVP Enterprise & Industry Partners – Buildxact 

Gerry Mortimer, Sr. Software Sales Account Exec- Epicor 

“Our work with Epicor BisTrack gives builders the ability to create and send orders digitally no matter the time of day, freeing them from what has been a very manual process,” Yates said. “With integrated pricing, builders can end all the back-and-forth phone calls about pricing to truly consult with their dealer.” 

In addition to booth events, Buildxact will host a panel discussion, Dealers Innovate to Offer More Value-Driven Services, to be held in Custom Building Central on Wed. 2/9 at 8:45 a.m. in booth #W303. Product demonstrations will also be held at this kiosk throughout the week. 

For any attendees attending IBS virtually due to the recent outbreak of the Covid-19 Omicron variant, Buildxact has built an interactive web page for all their show activities. A full schedule and recordings of specialty events and interviews can be found on the Buildxact IBS page. 

About Buildxact 

Buildxact gives custom home builders, remodelers and dealers control of their business to get jobs done. With easy-to-use features, job estimates take less time and ordering supplies is possible 24/7 using online price lists. Founded in 2011, Buildxact does business in Australia, New Zealand, Canada and the United States. The company recently secured $14 million in capital investment to boost its growing presence in North America and expansion into the United Kingdom in 2022. 

About the NAHB International Builders’ Show 

The NAHB International Builders’ Show is the premier, once-a-year event that connects, educates and improves the residential construction industry and serves as a hub for new product launches, construction demos, thought-leader sessions, workshops, panel discussions and more. 

CONTACT:  

Marissa Wagner
marissaw@buildxact.com
(210) 287- 6043
www.buildxact.com 

The post New Buildxact pricing integration for top-level builder, dealer collaboration on display at 2022 NAHB International Builders’ Show appeared first on Buildxact AU.

Melbourne, Australia – 31 January 2022 – Buildxact, a global SaaS company providing a simple solution for residential builders to better manage and grow their business,  has closed an AU$18.5 million (US$14 million) in a Series A funding round. Founded in Australia, and with already an established presence in the U.S. and Canada, Buildxact secured funding from some of Australia’s preeminent venture capital funds, taking Buildxact’s valuation post money to more than AU$125 million (US$92.5 million).

With the ambition to become a global powerhouse in construction tech, the company will use the funds to expand its global footprint, with deeper penetration of the ANZ, U.S. and Canadian markets, and a launch in the UK this quarter. Specifically, Buildxact will double down on their growth in the U.S. and Canada, and a large part of the new funds will be used to fund the company’s expansion in this region. 

The funds will also be put towards continued product innovation. A few months ago, the construction tech player announced a significant launch designed to capture a new segment of the residential construction market, becoming the first provider in the world to connect builders with materials suppliers through one central platform.

Buildxact offers a SaaS solution for the residential construction sector, designed to help builders and suppliers better control their business, delivering greater efficiency and simplicity. Backing Buildxact’s vision, the significantly oversubscribed Series A funding round saw six of Australia’s most respected investment institutions participate, including Regal Funds Management as the lead investor, Possible Ventures, Shearwater Capital, Ophir Asset Management, Washington H. Soul Pattinson, SecondQuarter Ventures, and Thorney Opportunities. There was strong demand from investors, with offers exceeding AU$28 million (US$20.7 million). 

Explaining the investment opportunity, Jessica Farr-Jones, Portfolio Manager at Regal Funds Management said that “Buildxact addresses a large but underserved market that typically relies on inefficient applications such as Word, Excel and email to estimate costs and manage projects. Diligence calls with both builders and building materials’ suppliers revealed a significant degree of ‘customer love’, citing Buildxact as the only cloud-based job estimating and job management solution. After already achieving significant traction in the Australian market, Regal is excited about the opportunity for Buildxact to penetrate further in the U.S. and Canada, and launch into the UK. With an incredibly strong founder-led management team, we believe the company is uniquely placed to become a global leader in this market.” 

Chris Hitchen, Managing Partner at Possible Ventures added “From our first interactions with Buildxact, we knew they had a remarkable mix of deep industry knowledge, and proven experience developing large-scale software companies. Buildxact is the perfect example of simple-to-use software taking an industry from the dark ages of spreadsheets, to the speed and convenience of the cloud. Building on their considerable traction in Australia, we are excited to support their global expansion.”

David Murray, CEO of Buildxact said “We are delighted by the strong support from the investor community, and the confidence they show in Buildxact. Our company is solving fundamental problems for the residential construction industry, and through this capital, we will be able to further expand our global operations, becoming the clear leader in software solutions for the builder and their engagement with suppliers.”

“Buildxact has performed extremely well over the last few years, growing rapidly, especially in the U.S. market,” says Buildxact board member and Aconex (acquired by Oracle) founder Leigh Jasper, who also participated in the round. “I’m thrilled to build on my early investment for the next phase of the company’s growth and the long-term vision of enabling residential builders to get ahead with simple online job estimating and management software.”

A strong U.S. footprint and upcoming UK launch

The announcement comes off the back of a strong year of growth for Buildxact, with Annual Recurring Revenue growing more than 100% year-over-year in FY21, and an increase of 81% of its subscriber base over the same period. Twenty percent of Buildxact revenues are now coming from foreign markets, with the strongest growth coming from the U.S. and Canadian markets, where the company signed recent strategic partnerships, including with leading ERP provider, Epicor.  Buildxact now has subscribers in six countries and expects the majority of its customers and revenue to come from outside the Australian market by 2024. 

To further accelerate global operations, the company will launch in the UK in early 2022. The size and make-up of the residential construction market in the UK, together with a gap in tech offering, and similar building practices to the markets that Buildxact currently operates in, makes the UK a natural next step in the company’s global expansion strategy. 

-END-

About Buildxact

At Buildxact, we give custom home builders and suppliers the power to control their business to get the job done. With our easy-to-use software, job estimates, quotes and schedules take less time and ordering supplies is streamlined using online price lists. Our customers have a clear sight of income and expenses, and we provide the latest cloud-based technology to keep them ahead of the curve and win the jobs needed to grow their business. 

Buildxact was founded in 2011 because repetitive tasks, like estimating, should take less time so that everyone has more time for what truly matters in life. Buildxact operates in the U.S., Canada, Australia, New Zealand. Buildxact ranks among the fastest-growing companies in Australia as recognized by The Australian Financial Review’s 2021 Fast 100 List.

www.buildxact.com.au 

Media contact

Sebastien Meunier

sebastien@sebmeunier.com

+61 431 364 170

Original article: read here

The post Fast-growing SaaS construction tech company Buildxact secures AU$18.5 million in Series A funding to help realize global potential appeared first on Buildxact AU.

Think of the companies you consider to be some of the all-time greats. When you think of those companies, what are the common themes that tie them together on their road to success? Was it that they had incredible funding or opportunity, or that they hit the market at the perfect time, or was it simply just a stroke of luck?   

When you think of the all-time greats like Tesla, General Electric, Microsoft, Apple, Amazon, or even Wal-Mart, consider this one major common denominator that framed their success…their origin story. Each of these companies started with an original idea or “lightbulb” moment that revolved around solving a common problem or a desire to make our world better.   

That lightbulb moment for Buildxact came in 2011 when founder John Allison realized that custom home builders desperately lacked simple software tools to connect them to their customers and suppliers that would ultimately help them to take control of their business and save time and money. Allison knew he could create a solution that could do just that, and thus Buildxact was born.  

“From the homeowner talking to his builder, the builder talking to the supplier, it was all manual. The ability for the supplier to get visibility of what the builder was going to be ordering didn’t exist,” said Buildxact CEO David Murray. “That’s when we saw an opportunity for Buildxact to become the platform where the builder and the supplier do commerce and optimize and drive efficiency in the supply chain.”  

Since 2011, Buildxact has grown to be the top construction management software provider in Australia, and the company is not stopping there. As part of their global expansion plan, the company launched its software into the Canadian market in 2019 and subsequently launched in the United States in 2020, just as the COVID-19 pandemic struck. Nonetheless, Murray was excited to see the new markets validate the value proposition.  

“We went from the start of the last financial year with less than 4% of our revenue coming from North America to finishing the year with more than 20% of our revenue coming from North America. We did that all digitally,” Murray said.  

And the company is at a very different place today than it was a year ago.  

“If we were having this conversation back in November of last year, we hadn’t sold one subscription to a supplier, and here we are, having launched a product in October, and we already have over 40 suppliers subscribed to Buildxact,” he said. “That’s an exciting achievement for us.”  

There is no question that the software solution solves the many pain points of the construction industry and takes it into the 21st century.  

“This is an industry that hasn’t had a focus on digitization, especially with this type of customer that we’re talking about,” Murray said. “When we look at it from the lens of how does each person in this industry work with each other, then we can go and apply technology and innovation in solving those pain points.”  

In the end, Murray attributes Buildxact’s success to the employees who are working diligently to keep taking it to new heights.  

“There are four things that underpin the success of the company. You need a sound strategy and the ability to execute that strategy. To do that, you need the right people to execute the strategy. You also need a culture where people feel engaged and have a sense of purpose where they don’t see coming to work as a chore because they love what they do,” he said.  

Buildxact has already proved it serves a need for custom home builders and suppliers in the industry. Now it is about building on that existing momentum to maintain a continued growth path.  

Read the full editorial feature: A bit of coding power transforms building design  

The post Buildxact makes 2021 AFR Fast 100 list at #30 appeared first on Buildxact AU.

Buildxact, an estimating and project management software for dealers and custom home builders, announced today its integration with Epicor’s BisTrack Solution, an ERP software for building material suppliers and distributors. 

This integration addresses the long-time industry challenges of time efficiency and cost accuracy in the builder order submittal process by digitizing the typically manual operation. Dealer customers using Buildxact now will be able to create and send an order that passes through the dealer’s integrated BisTrack ERP system creating more speed, transparency, and accuracy at any time convenient to the customer.  

This software collaboration offers the dealer the opportunity to elevate its level of service, reduce cost of service, capture more business, improve customer retention rates, and capture real-world project data for more accurate demand planning.  

“BisTrack has a strong reputation with dealers across the country, which we will leverage and layer on to, offering our comprehensive suite of features that can remove cost and complexity,” said Stephen Yates, president of North America for Buildxact. “In an ever-evolving world of technology, BisTrack and Buildxact coming together represents a huge win for the advancement of the dealer industry at large, positioning them to better compete with large retail home centers.”  

“This now digital connection removes the burden from dealer sales teams and extends the interaction between the builder and dealer,” said Graham Rigby, regional vice president of sales at Epicor. “Now dealers can focus outside sales teams on earning more business from the builders where they can grow business. This is a great way that technology will reshape the sales role to be more relationship driven and less transactional.”   

Buildxact also offers the dealer the ability to create product assemblies as another convenience to customers that also helps them win more of the project.  

Dealers will be able to track consumer purchasing behavior and preferences to project future demand accurately. This visibility into the future will allow dealers to protect their margins, foster price stability, and provide delivery assurance. 

The partnership between Epicor and Buildxact will establish a managed ecosystem, by enabling stronger partnerships between dealers and custom home builders, and by providing deeper insights to help boost supply chain efficiency. 

“This is the future of the construction industry. Meaningful innovations and partnerships like this one will create an atmosphere that sets up custom home builders and dealers for sustained growth,” said Buildxact CEO David Murray. 

-30- 

The post Buildxact and Epicor’s BisTrack Integration Digitizes Manual Order Process Between Dealers and Builders appeared first on Buildxact AU.

As a custom home builder, you know that first impressions matter, and the secret to success is to stand out from the competition from the outset.   

However, meeting with a builder to discuss designs and plans for the family home can be daunting for homeowners. They have a lot to consider, not the least being selecting a builder they trust to deliver their dream home. 

The first meeting is all about building rapport – selling their skills and experience, and the process a builder will use to ensure the build will be as seamless as possible for the homeowner. Demonstrating a professional approach to communication is key. 

We’ve recently released exciting new features and enhancements to take customer communication in Buildxact to the next level. 

One portal for all communication

Consider all the different types of communication a builder has with their customer and the different channels – it quickly adds up. Design suggestions shared via Pinterest, quotes going out via email, signature approvals on PDFs, verbal approvals on variations over the phone by the wife (although the husband is not across the change). Keeping track of communications and ensuring customers are across all documentation is hard! 

Buildxact has solved this problem with a Client Portal.  

Customized to the builder’s brand and accessible via the builder’s website (or direct link), builders can present prospective customers with a professional communication tool to provide a better customer experience. With a secure login, builders and their customers can easily collaborate on designs, sharing images and plans, and communicating in one centralized location.  

Stand out with branded quotes

Builders can maintain cost visibility, manage customer expectations, and keep track of customer approvals on quotes, invoices, and variations on the go with the Client Portal. 

If the pandemic has taught us anything, it is that it’s important to have options – options to visit a customer face-to-face to talk through a quote or the option to send digitally.  

Builders can choose to email (synced with Buildxact so the email can be viewed along with job information) or share quotes via the Client Portal so the customer can view all financial documents in one location. With the option to accept quotes digitally, even if builders can’t get out to see the customer, the job can still progress to the contract stage quickly. 

There may even be times when the builder shares multiple quotes with the customer. With digital acceptance on the Client Portal, builders can easily identify and convert the approved quote to a job. And to ensure builders stay on top of their margins, notifications highlight any cost differences between the approved quote and the job estimate.  

With transparency across the financial side of the build, customers feel comfortable knowing there will be no surprise expenses coming through at the end. 

Easy progress updates

Easily keep your customers informed throughout the build by sharing images and messages on the Client Portal. With a record of all communication, the portal removes the potential for he said/she said confusion, shifting the conversation to collaboration and excitement about the build progress instead.  

24/7 online access, always

With 24/7 access from any device, exceptional customer service doesn’t end with the build. Customers can access the portal long after the build has finished to reference any aspect of the job. For example, they may need to see the paint colors, or appliance details if additional work in the future. 

Technology provides an opportunity for builders to thrive with an unmatched competitive advantage. By offering a professional communication tool, whilst also improving efficiencies, builders can save time, win more jobs, and grow their business. 

From design to delivery and beyond, Buildxact helps builders keep their customers informed and satisfied throughout the entire build experience. 

Check out this video to find out more about lead management and the client portal  

The post Product News: Customer communication and collaboration has never been easier appeared first on Buildxact AU.

Born and raised in the San Francisco Bay area, Walling said Buildxact provides a unique opportunity to get back to her roots where she helped her parents build their dream home in the Santa Cruz Mountains. She is a perfect fit at Buildxact as it continues its mission to help custom home builders and remodelers work smarter – not harder – with an all-in-one, cloud-based construction management software.   

“I have a very diverse background, including personal experiences in the custom home builder and remodeling industries,” she said. “I started my marketing career in technology, with early learnings from industry leaders like Oracle, and then built upon that foundation at The Myers-Briggs Company, Cohesity and Medallia. I learned from some of the foremost experts in leveraging the strength of technology, creating market demand, and building a company culture where people – including customers and employees – feel valued.”   

Walling takes a holistic approach when it comes to marketing.  

“I think of myself as a revenue marketer. Marketing exists to understand the needs of the market, connect customers with products that solve their problems, and support the company’s growth goals,” Walling said. “It’s vital that our demand generation – and really the entire marketing strategy – underpins our sales goals – identifying the right customers and helping them succeed through using Buildxact.”         

This signals a pivotal moment for Buildxact as it continues its global expansion.  

“This is an exciting time for Buildxact. Leah will be a growth catalyst, expanding upon the company’s 10 years of momentum in the software solutions for residential construction,” said David Murray, Buildxact President and CEO. “Leah has an impressive background working with global companies and unicorn start–ups, deepening Buildxact’s leadership. With Leah’s marketing leadership, she will help to scale our business and extend awareness and demand for our products to custom home builders and remodelers across the globe.”    

The post Leah Walling joins Buildxact as Executive Vice President of Demand Generation appeared first on Buildxact AU.

At Buildxact we talk a lot about building. Construction. Renovations. Perhaps even more importantly, we talk about the people involved throughout the process – builders, trades, suppliers, consumers, even coaches and accountants!  

When we chat with our builders and our suppliers, the main thing they want, no they need, is time. How they would choose to spend that time differs – some might spend it getting new business and talking with existing customers, others might spend it with the family, or at the golfing range. But what rings true is that time is an important commodity.  

So, what if we were to tell you we’ve found a way to save builders and suppliers a ton of time? What if there was a way to streamline an everyday activity completed for every job? Well, we have, and there is!  

The rework cycle challenge 

Since the beginning of time, builders have contacted their suppliers with a list of items to quote. Some might even send plans so the suppliers can do the takeoffs for them. 

The challenge has been that the plans may change, or the measurements were incorrect, an item was missed, or prices were not up-to-date. All of this results in multiple phone calls and emails back and forth to arrive at the final supplier quote. 

Integrated up-to-date supplier price catalogues 

Today Buildxact launches Supplier Integration. A new feature that brings builders and suppliers together to collaborate on jobs. 

Builders can now view their supplier’s price catalogues automatically integrated into their workflow on Buildxact. With up-to-date pricing on hand, builders can work on estimates at a time that suits them, sending a quote to their customer in hours, rather than days or weeks.  

“The benefits of [my supplier’s] price list offered through Buildxact, it stops all those phone calls in between and waiting for prices and quotes,” said John Peros, director at Peros Built, a leading contractor in New South Wales, Australia.  

Supplier recipes will also save builders time and money by removing the need for those last-minute trips to the local supplier for missed items that weren’t included in the customer quote. Recipes group together SKUs (or items) to create a packaged component. For example, a door, door jambs, hinges, and lockset could make up a door recipe. With one click, the recipe adds all the items to an estimate. 

Better yet, supplier’s price catalogues will simplify builder’s accounts payable and increase profit margins. With supplier items automatically appearing as an option in estimates, builders are likely to order more items from their main suppliers/dealers for ease in delivery, management, and invoicing – fewer invoices, fewer headaches! With the latest pricing and all items captured in the quote (i.e., no unexpected expenses from last-minute suppliers trips), builders can be confident in their profit margins for each job. 

Our research shows that the likelihood of winning a job increases the earlier a quote is received. Integrated suppliers catalogues and recipes equals time saved, more jobs won, and better profits. 

And if a builder needs a quote for an item not in the price catalogues, they can easily collaborate with their suppliers in Buildxact to quickly turn around a customized quote. Stay tuned for more on this one! 

Place orders online anytime 

Once builders have won the job, they simply click the items needed to order in Buildxact and submit to their suppliers online. With the product codes included in the purchase order (from the supplier’s catalogue), suppliers have the information they need to accurately fulfil the order. Easy, fast, and accurate, this process enables builders to place orders early to secure stock. 

Collaboration for the win 

With the launch of Supplier Integration, builders and suppliers can connect on Buildxact to collaborate on jobs. And we are talking a true collaboration here, the relationship forming kind. From those chats we had with builders and suppliers came the realisation that there is a shared unified goal – both aim to win more work, both require efficiency in quoting to do so, and both benefit from the other’s success! 

Connect to take advantage of Supplier Integration 

With suppliers already listed in Buildxact, builders can connect now to integrate price catalogues and recipes into their workflow. Generate customer quotes in a fraction of the time, be confident on price, and secure in the knowledge nothing has been missed. 

Builders: check out how to connect with suppliers to start collaborating today. 

Suppliers: check out to invite customers to collaborate on Buildxact.

Not a Buildxact customer but want to learn more? Book a 1:1 demo with our team.

The post Product news: Buildxact has just solved arguably the biggest pain point for builders and suppliers appeared first on Buildxact AU.

Despite lockdowns, the construction industry in Australia is in good shape. Will the end of government assistance lead to a bumpy road ahead?

Lockdowns and challenging news dominated many people’s lives in 2020. But, things are looking up, especially for residential construction in Australia. Buildxact’s Residential Construction Activity Report (H1 2021) data shows a positive trend in the industry based on the first half of 2021. Win rates for builders continue to show signs of stability, despite fluctuating demand.

Overall, the residential construction industry is rebounding from the pandemic. Despite lockdowns, builders showcased their agility and adapted. The government provided much-needed assistance to homeowners via the HomeBuilder Grant and enacted changes to stamp duty policies, which had a trickle-down effect on builders.

There was steady growth throughout Australia, and demand for custom home builders saw continued growth during the first three quarters of 2020. The average number of estimates even increased 6% from Q1 to Q3 2020. As expected, the industry saw a seasonal dip in December, resulting in a 24% decline in the average estimates per builder from November results. This trend recovered in February 2021 and peaked in March; however, average estimates per builder saw a 13% decline in April, in line with the end of the Government Home Builder Grants.

When one takes a closer look, it is clear some states suffered more significant impacts than others.

Victoria was the hardest-hit state in terms of lockdowns. Despite this, there are plenty of signs the residential construction industry continues its road to recovery. Demand for residential builders remains higher than pre-COVID-19 days. The number of estimates per builder for new builds and renovations is also trending higher. But, it’s not all positive news. The ongoing average number of estimates for new builds during the first half of 2021 is lower than its peak during Q2 and Q3 of 2020 — the height of lockdown.

The main story out of New South Wales is that demand for renovations remains below 2020 levels, meaning there are no signs of recovery. In Queensland, the demand for new builds remains strong. Builders are benefiting from increased demand and value for new builds, which has led them to enjoy a 27.3% increase in the average margin for new builds. And in Western Australia, despite reduced demand in the first half of 2021, it saw the most robust growth levels across the entire country. Builders there have increased their margins, and as a result, their profits.

The post Buildxact report finds residential construction is bouncing back from the pandemic appeared first on Buildxact AU.