ABS building approvals data released for regional Victoria continues to show that the decline in housing remains concentrated in the Melbourne metropolitan area while growth continues in many of Victoria’s regions.

Greater Melbourne

Greater Melbourne experienced a 14.5 per cent decline in residential building approvals for the March 2019 quarter in which a total of 10,519 buildings were approved compared to the previous quarter of 12,310. This marks an overall decline of 18.6 per cent over the year to March 2019. Apartments continue to remain the main driver for this decline.

Ballarat

Ballarat experienced a 0.5 per cent decline over the quarter to March 2019 in which 401 residential buildings were approved in total. Nonetheless, over the year to March 2019, there has been an overall increase of 16.8 per cent with a yearly total of 1510 residential building approvals.

Bendigo

There was an increase of 7.1 per cent in residential building approvals for Bendigo over the quarter to March 2018 in which a total of 318 residential buildings were improved. Despite this increase, there has been a decrease of 6.4 per cent in residential building approvals over the year to March 2019, with a total of 1215 approved residential buildings.

Geelong

Geelong experienced a 2.2 per cent increase over the quarter to March 2019 in which a total of 1059 residential buildings were approved. This translates to an annual increase of 22.7 per cent, resulting in an annual total of 4459 residential buildings approved. Apartment approvals continue to surge, with a quarterly and yearly increase of 99.2 per cent (+122 apartment approvals) and 89.1 per cent (+419 apartment approvals) respectively.

Hume

Hume experienced a 10.1 per cent decrease over the quarter to March 2019 with a quarterly total of 329 residential building approvals. However, it remains 0.2 per cent higher over the year to March 2019 with an annual total of 1447.

Latrobe-Gippsland

Latrobe-Gippsland experienced a decline of 6.6 per cent in residential building approvals over the quarter to March 2019 with a quarterly total of 599 residential building approvals. However, it remains positive in terms of annual growth, where it experienced a 5.1 per cent increase over the year to March 2019 with an annual total of 2486 residential building approvals.

North West

There was a decrease of 10.4 per cent in residential building approvals in North West in which a total of 103 residential building were approved. Over the year to March 2019, there was a decrease of 3.2 per cent with an annual total of 542 residential building approvals.

Shepparton

Shepparton experienced a decrease of 2.7 per cent in residential building approvals over the quarter to March 2019, with a quarterly total of 179 residential building approvals. Nevertheless, over the year to March 2019 saw an increase of 29.2 per cent, with an annual total of 747 residential building approvals.

Warrnambool and South West

Warrnambool and South West experienced a 10.4 per cent increase in quarterly residential building approvals where 148 residential buildings were improved. It experienced an increase of 9.3 per cent over the year to March 2019 with an annual total of 586 residential building approvals.