The problem we have from the boom of last 20 years is we've been sending raw materials to other countries (and they send it back as finished goods at a much higher price) for so long that we just didn't bother to make stuff any more.
It seems all that money got poured into building property and in the 1980s when privatization pretty much let loose developers to build whatever they wanted.
Hence apartments everywhere at breakneck speeds and built so fast, building standards were well ... forgotten about. Governments and councils grew addicted to property taxes. Banks lending money out without care as well because they could.
So what did get from the boom?
Lots of apartments which will probably be torn down before 20 years due to construction faults. Most focused on Melb and Sydney. A lot of it built on toxic reclaimed land!
A bigger services sector
A bigger public sector
Bigger banks who swallowed small rivals, and are now at risk of falling over because they overextended themselves lending out too much money (and their gambling on the markets with trillions in derivatives)
More roads and more privatized roads
What didn't really happen
Better public transport including better trains
More investment in water infrastructure
No additional coal power stations like some wanted (private companies didn't want to spend the billions building the things, neither did governments)
Corporations seem be these days making money from not making stuff but simply moving tax centers out of Australia and then using tax loopholes (ones as big as Airbus A380s).