However, there is plenty more positive investment news in other parts of the economy.
Publicly funded infrastructure spending has been increasing for several years and this is expected to continue.
Projects such as the NBN at the nationwide level and a number of road and rail projects across New South Wales and Victoria are set to push public infrastructure spending to record levels over each of the next three years.
It’s not just the public sector likely to see solid growth. We anticipate privately funded non-residential building projects (including retail, hotels and offices) will also support construction activity and assist investment and employment through the last stages of the mining boom and beyond.
Encouragingly, this work is spread across more of the country than the publicly funded infrastructure projects.
Further out, is it difficult to see this level of infrastructure spending continuing given future pressures on government finances, and the apparent lack of willingness of the states to take on substantial additional debt to fund infrastructure.
We believe the level of publicly funded infrastructure activity will steadily retreat beyond the 2019 peak.
Daniel Gradwell is an Economist & David Plank is Head of Australian Economics at ANZ