114,803 building permits were issued in the Victoria State during the 2017-2018 financial year, shows the Victorian Building Authority (VBA). The construction sites are valued at $38.4 billion.
This is a new record for Victoria, not only for the number of permits issued, but also for their value. The previous record was registered in the 2009-2010 period with 113,669 permits with a value of $32.8 billion.
Public Buildings and Hospital and Healthcare have shown an important growth, as they have the biggest value. The building permits for Hospital/Healthcare in the 2017-2018 fiscal year are valued at $1.2 billion which is an increase of 26.9% from the last fiscal year and Public Buildings have the most value, $3.5 billion, 29.7% more than the 2016-2017 fiscal year.
But all building categories have reported an increase in value, the statistic shows.
Domestic constructions value increase with 14.4% from last year, to $19.8 billion. Residential, and that includes apartments, has a value of $6.5 billion, 22,4% more than the last fiscal year. Commercial is valued at $4.7 billion, with an increase of 13.9%, Retail increased with 17.8% to $2.0 billion and the Industrial building sites have earned $668 million, more with 8.8% than the last fiscal year.
Rural Victoria has a higher percentage growth than Metropolitan Melbourne when, but the last has more value. Inner Melbourne is valued at $17.4 billion and it has shown an 18% increase and Outer Melbourne went up 15.2%, to $14.1 billion. Gippsland has an increase of 27.5% which means 1.1 billion. North Central is valued at $1.2 billion with a 23% increase, North East has a $933 million, which means a increase from the last fiscal year of 11.4%, North West is 17.2% more valuable, which means, 1.1 billion and South West has a value of 2.6 billion, 20.4% more than it was registered in the 2016-2017 fiscal year.