The VBA have released a summary of building approval data for 2014 with a record high of $26.9 billion in building approval’s, 14% higher than 2013.
All regions recorded an increase in approvals with the city of Melbourne recording the highest value of permits, followed by Wyndham and Geelong councils.
With the exception of the commercial sector, all other sectors increased, with healthcare, industrial and retail recording the highest percentage gains.
WHERE THE ACTIVITY IS (in comparison to 2013)
By sector:
Domestic rose 18.3 per cent to $13.7 billion
Residential (including high rise) increased 8.3 per cent to $4.1 billion
Commercial fell 13 per cent to $2.9 billion
Retail increased 14.9 per cent to $2.0 billion
Industrial jumped 28.0 per cent to $728 million
Hospital/Healthcare leapt 119.2 per cent to $1.7 billion
Public Buildings rose 2.5 per cent to $1.8 billion
By Region:
Inner Melbourne increased 11.5 per cent to $12.3 billion
Outer Melbourne rose 14.3 per cent to $8.8 billion
Gippsland was 12.3 per cent higher at $812 million
North Central leapt 33 per cent to $1.3 billion
North East rose 9.7 per cent to $680 million
North West increased 21.8 per cent to $1.2 billion
South West jumped 21.9 per cent to $1.9 billion
Read the article from Sourceable
Source : Sourceable
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