Australia is on the verge of the biggest investment boom as a large number of projects await final decision to go ahead according to the latest Access Economics - Arup Investment Monitor.
The report said there are currently 145 projects worth some $161 billion where a decision on whether to go ahead or not is expected to be made during 2010.
"All of these projects are proposed to commence in 2010 so the bulk of the decisions are expected to be made in the next six months. Around two-thirds of these projects by value are mining projects. The decisions on those projects will mark the difference between investment stabilising at a high level and a further move up to an all out investment boom over the next couple of years. That said, it will be a patchwork boom rather an even handed one," it said.
The Access Economics-Arup Investment Monitor singled out WA as the centre of the action for growth in investment at present.
"The state has more than double the value of definite investment projects underway of its nearest rival (Queensland) and it continues to extend that margin. The investment program in Victoria looks a touch more solid than NSW though both are weighed down by modest pipelines of retail and office activity. Office activity is also waning in the ACT though there is a reasonable pipeline of engineering work. South Australia's investment remains reasonable with plenty of potential in mining. Tasmania has a modest investment program at present, while the Northern Territory sees investment on the rise with potential for much more as a part of renewed mining boom," the report said.
While not all of these projects will be approved and indeed for some decisions will no doubt be delayed, the report pointed out that as it stands at present, that is an extremely healthy pipeline of projects which could go ahead and one with a rather short fuse.