This week's hot item

Review



Victoria's building industry soars with $1.6 billion dollar month

Print-friendly Version

Victoria's building industry soars with $1.6 billion dollar month

October 2007

The latest Pulse building permit figures released by the Building Commission reveal another billion dollar month for Victoria’s building industry.

Building Commissioner Tony Arnel said building permit activity for August 2007 totalled $1.6 billion in value, a 4.7 per cent increase on the same month last year.

“This is Victoria’s highest August building permit activity on record, with the performance boosted by increases in the industrial and hospital/healthcare areas,” said Mr Arnel.

“An impressive 12 building projects were registered with a permit value of more than $10 million for the August 2007 month.

“This included two building projects in regional Victoria – an office construction in Geelong valued at $11.5 million and an aged care facility in Wodonga, valued at $11.3 million,” he said.

Mr Arnel said both metropolitan Melbourne and regional Victoria recorded increased building permit activity during the month.

“Metropolitan Melbourne recorded a 4 per cent increase, while regional Victoria posted a 7 per cent increase over August 2006,” said Mr Arnel.

By building use, building permit figures for August 2007 compared with August 2006 reveal:

  • Domestic rose 0.5 per cent to $907.3 million.
  • Residential increased 10.2 per cent to $99.1 million.
  • Commercial grew 5.9 per cent to $278.4 million.
  • Retail eased 2.9 per cent to $84.1 million.
  • Industrial jumped 73 per cent to $49.3 million.
  • Hospital/Healthcare soared 295.1 per cent to $80.2 million.
  • Public buildings declined 27.5 per cent to $96.3 million.

Mr Arnel said the strong August result is encouraging for Victoria’s 2007 calendar year tracking.

“Victoria’s building permit activity for the calendar year to August 2007 is valued at $11.5 billion, a 6.2 per cent increase compared to this time last year,” said Mr Arnel.

For more information on building statistics, visit the Building Commission’s Pulse website at www.pulse.buildingcommission.com.au.

The Building Commission collects Victorian building information monthly from building surveyors who provide details of the building permits they issue. This media release is based on a summary of this information.

Return to Victoria

Auction (New)

Bid Go

Sell Go


Buy Now! Visit the Auction Page to bid on renovation products and building materials online. Check out our auction site and start your home renovation today!