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Date PostedOctober 16, 2018

Melbourne Construction Reaches Record Highs

Source: Pixabay.com

Melbourne construction has reached record highs with $38 billion in building projects approved across the state of Victoria.

According to the latest figures from the Victorian Building Authority, 114,800 building permits were issued across Victoria in the last financial year.

This was a record high number, breaking the 2009-2010 financial year record for 113,669 permits issued. It is also a record high in revenue, with the $38.4 billion in works exceeding the previous 2016-2017 period with 32.8 billion recorded.

While houses make up around $19.8 billion of the permit values, the overall figure includes hospitals, homes and even backyard projects.

A substantial amount was due to the Melbourne City Council, whose permits accounted for $5.7 billion, from $4 million last year.

The most permits however were issued for the City of Wyndham in the city’s west – 7231 permits, valuing around $2.3 billion.

Read more at https://www.news.com.au/finance/real-estate/melbourne-vic/billions-in-permits-push-melbourne-to-new-record-for-construction/news-story/d3dd7bdfc9fbf547d218e88e9b4af0ac

Peter Cutforth is a Director at Urban E-Learning, a global elearning and web strategy firm based in George St Brisbane. Peter's interests extend to training, safety and compliance, online marketing, and Mobile Apps.

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