The Victorian Building Authority (VBA) has announced that the value of building permit activity in Victoria in April 2014 has hit an all-time record.
April 2014 saw the issue of $2.37 billion worth of building permits in Victoria, almost $500 million more than the previous highest total of $1.9 billion, recorded in April 2010, and 26% higher year-on-year when compared to the April 2013 value. The previous highest monthly value of $2.34 billion in Victoria was reported in July 2013.
Chief Commissioner Bill Kusznirczuk described the report as very positive for the Victorian building industry, which is a significant contributor to the state and national economies.
According to Mr Kusznirczuk, the April 2014 data indicates that building permit activity in Victoria continues to be strong, with four of the seven building use categories (Domestic – homes, Commercial, Retail and Public Buildings) achieving double digit growth over the same month last year, and Hospital/Healthcare making a triple digit gain.
Building permit activity in five of the seven regions of the State (Inner Melbourne, Outer Melbourne, North Central, North East and South West) grew in April 2014 against the April 2013 performance.
Twenty four building permits valued at more than $10 million each were issued in April 2014, including one for a Retail project at Hoppers Crossing valued at $120 million and two permits valued at a total of $106 million for a Hospital/Healthcare project in Melbourne.
Mr Kusznirczuk adds that the VBA supports the building industry in its endeavour to be a strong contributor to the economy, while also ensuring high standards of building compliance.