The size and importance of the building and construction industry in Victoria cannot be overestimated. This is the most important sector for the State – in terms of what it delivers to the economy and the community. The sector doesn’t just deliver jobs, output and a disproportionate amount of taxation revenue – but it also delivers the houses and social infrastructure like roads, transport, parks, hospitals, schools and aged-care facilities - that are needed for Victorians to maintain the living standards that they have come to expect.
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.