Record $32.8b building work in Victoria in 2016-17
The value of building in Victoria in the financial year 2016-17 reached a record $32.8 billion, according to the latest building permit data from the Victorian Building Authority (VBA).
Across the state, regional and rural Victoria performed better growth-wise than metropolitan Melbourne with the value of building permits outside Melbourne up 6.9 per cent from the 2015-16 value to $5.8 billion. Inner and outer Melbourne rose a combined 3.4 per cent to $27 billion.
VBA Chief Executive Officer Prue Digby said that the value of domestic building permits (houses) for the year was a record $17.3 billion – almost 7 per cent higher than the previous record of $16.2 billion in 2015-16.
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