Record Value of Building Work in 2015-16 Financial Year
Friday, 29 July 2016
If Victoria's building and plumbing practitioners felt the past 12 months was a busy time for them and their industry, and the latest building permit data released by the Victorian Building Authority (VBA) provides confirmation it was the case.
A record $31.5 billion of building work was reported to the VBA in the 2015-16 financial year, an increase of 12.3 per cent on the record $28 billion reported in 2014-15. The number of building permits lodged by building surveyors with the VBA over the 12 months was 110,069, the second highest number of building permits reported after the 113,669 in 2009-10.
Building permits for Domestic building (houses) accounted for $16.2 billion of that total, a 12.5 per cent increase on last year's $14.4 billion. The value of Residential (including apartments) building permits jumped 23.7 per cent to $5.9 billion, while double digit growth also occurred in Commercial building (also up 23.7 per cent, to $3.7 billion) and Public Buildings (up 18.3 per cent, to $2 billion) compared with the previous financial year.
For more details, visit the VBA data page.