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Vic building permit values reach record high

By webmaster
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The dollar value of Victoria’s residential building permit activity – including high rise – more than doubled in the first quarter of 2011/2012 compared to the same time last year.

New Victorian Building Commission data show residential building permit figures totalled $1.3 billion for the first quarter of 2011/2012, a 60 per cent jump on the total for that period in the previous financial year.

The value of activity during the September quarter of this year was the highest on record overall, deputy building commissioner Neil Savery said.

Domestic house permits were, however, found to have dropped by 9 per cent to $3.3 billion.

Northeast Victoria and Gippsland both reported overall decreases in permit activity, with falls of 24 and 23 per cent respectively.

Small drops in approvals were also reported in the southwest of the state (5 per cent) and outer Melbourne (6 per cent).

“Significant increases in the value of residential, retail and industrial building permit activity contributed to the result, as did rises in the hospital/healthcare and commercial categories,” Mr Savery said.

“The record September 2011 quarter represents a positive start to the financial year, and includes a 2.4 per cent increase in building permit activity during the month of September 2011 when compared with September 2010.”

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