The Victorian economic report for November 2019 is now available.
While Victoria’s rate of population growth has slowed slightly, it remains the fastest among Australia’s states and territories and is a factor contributing to the state’s healthy levels of job creation and employment.
While home building activity in Victoria remains at an elevated level by historic standards, it is retreating from record highs. Much of the reduction is closely associated with high-density builds such as apartments rather than detached housing. Despite the overall decline in the issuing of home loans, the share of first-home buyers is increasing.
Commercial building work and engineering construction work are displaying stronger results, however there are signs of a slowdown in commercial building work activity in recent times.
To access the full economic report, please click here.