“We applaud the Treasurer of Victoria on the record $13.7 billion commitment in 2018-19 on our state’s infrastructure—taking the average infrastructure spend to $10.1 billion per annum over the next four years,” Radley de Silva, CEO Master Builders Victoria, said.
“This action suggests the Government understands the importance of the building and construction sector to Victoria’s economy,” Mr de Silva said. “Our sector’s contribution cannot be understated—we are the largest full-time employer in Victoria and taxation from property and land transfers still accounts for more than 45 per cent of the government’s revenue—demonstrating just how important building is for our state.
Residential building approvals in regional Victoria..
It appears a lack of affordable housing in Melbourne is the key driver for venturing to regional Victoria seek more affordable.
Apartments and units driving decline in housing approvals..
The latest building approvals data for Victoria has been released, showing an overall decline in approvals, with apartments/units.