New in Building Permit Records Set in Victoria
Victoria is showing signs of a continued path of building permit highs with this years record breaking number of building permit request.
The Victorian Building Authority (VBA) released some exciting new data, showing a record 114,803 building permits valued at $38.4 billion reported across the state during the 2017-18 financial year.
As a record, this tops the number of permits applied for in the previous fiscal year of 2016-17, where a record value of $32.8 billion for work was recorded, and the previous record for the number of permits in the fiscal year 2009-10, where 113,669 permits were applied for.
The leading categories with the highest recorded growth in this year’s list were Public Buildings and Hospital and Healthcare.
The record in numbers, a comparison between 2017-18 and 2016-17 showed:
- Domestic (houses) rose by: 14.4 % to $19.8 billion;
- Residential (including apartments): 22.4 % to $6.5 billion;
- Commercial: 13.9 % to $4.7 billion;
- Retail: 17.8 % to $2.0 billion;
- Industrial: 8.8 % to $668 million;
- Hospital/healthcare: 26.9 % to $1.2 billion;
- Public buildings: 29.7 % to $3.5 billion.
In terms of region wise increase in value, 2017-18 compared with 2016-17 showed:
- Inner Melbourne rose by: 18.0 % to $17.4 billion;
- Outer Melbourne 15.2 % to $14.1 billion;
- Gippsland 27.5 % to $1.1 billion;
- North Central 23.0 % to $1.2 billion;
- North East 11.4 % to $933 million;
- North West 17.2 % to $1.1 billion;
- South West 20.4 % to $2.6 billion.