Record $27 billion Victorian building permits in 2014
Tuesday, 3 March 2015
The value of building permits in Victoria in 2014 was a record $26.9 billion, 11 per cent above the previous highest calendar year total of $24.2 billion reported in 2011.
Chief Executive Officer of the Victorian Building Authority (VBA) Prue Digby said the record building permit activity in 2014 was 14 per cent higher than the $23.5 billion reported in 2013.
"All building work requires a building permit to be issued by a building surveyor unless there is an exemption for the proposed works under the Building Regulations 2006. The building surveyor is obligated to report details of each permit, including the value of works, to the VBA at the end of each month," Ms Digby said.
"The data provided to the VBA in 2014 reveals that, compared with 2013, the value of building permits was higher for all seven regions of the state, which also all posted increases in the number of building permits reported.
"The percentage increase in value of building permits in Rural Victoria outstripped the level of increase in Metropolitan Melbourne, 21 per cent compared with 13 per cent.
"The Inner Melbourne region reported the highest value of building permits, $12.3 billion overall, while in Rural Victoria the South West region reported $1.9 billion. The North Central region had the biggest percentage growth in value, rising 33 per cent to $1.3 billion when compared with the previous 12 months," Ms Digby said.