Victoria records strongest building quarter in 13 years
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22 November 2007
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Building permits worth $5.1 billion were issued in Victoria during the September quarter, making it the strongest quarter for 13 years.
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Victoria has also had a strong calendar year with $14.9 billion worth of building permits issued to October, showing the strength of the Victorian economy.
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“It’s terrific to see high building industry confidence in regional and metropolitan Victoria and across all sectors,” Victorian Minister for Planning, Justin Madden, said.
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The September quarter saw robust rural building permit growth, with the North East, North West and South West experiencing 12.5 per cent, 17.1 per cent and 16 per cent growth respectively. Metropolitan Victorian building permits issued also grew 15.4 per cent to $4 billion.
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In comparison to the September 2006 quarter, building permit figures by building use for the September 2007 quarter show:
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- Domestic increased 9.3 per cent to $2,635 million;
- Residential soared 77.3 per cent to $530 million;
- Commercial eased 8.4 per cent to $888 million;
- Retail leaped 57.7 per cent to $438 million;
- Industrial increased 41.7 per cent to $152 million;
- Hospital/healthcare jumped 181.3 per cent to $190.4 million; and
- Public buildings dropped 27.6 per cent to $241 million.
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“The Victorian Government’s planning policy framework provides the certainty and security residents, councils and developers need to invest with confidence in new homes, renovations, commercial buildings and public sector building works,” Mr Madden said.
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| For further information on Victoria’s building statistics visit the Victorian Building Commission. |
