Master Builders Victoria (MBV) has welcomed the latest building approvals data which saw an increase of 5.4 per cent in approvals for new detached houses in Victoria during the three months to October 2023 compared with the previous three-month period.  

The growth also compared favourably with an increase of 4.1 per cent over the October 2022 quarter data. 

MBV CEO Michaela Lihou said the latest ABS figures were a good sign for the industry which is continuing to slowly rebuild momentum after the challenges of the pandemic. 

“While the positive gains might not be as fast as we might all like, there is no doubt that the signs are of an industry – and importantly consumer confidence – slowly rebuilding and moving forward,” she said. 

The latest data showed an increase in Victoria of 3.5 per cent total volume in major home renovation works  during the three months to October 2023 compared with the previous three-month period, and an increase of 6.9 per cent compared to October 2022 quarter data.  

“As we continue building on this upward trajectory, it’s important that our key policy and decision makers recognise the potential damage to consumer confidence that future interest rate rises will have on our industry, and many others,” said Ms Lihou. 

“It’s also important that the Federal Government fully appreciates the impact of its industrial relations Bill which is currently before Parliament, and what we see as the potential damage it could inflict on independent contractors, subcontractors and self-employed trades.” 

“Our industry is making slow but positive and important progress, and we can ill afford for it to be a case of ‘one step forward and two steps back’ thanks to bad policy,” she said. 

Available for comment: Master Builders Victoria CEO Michaela Lihou. 
Media enquiries: Leigh McClusky 0411 711 780  [email protected]