Construction booms in Victoria

Victoria’s construction sector is undergoing a boom, with a massive 25% increase in house construction in the first quarter of 2014, according to ABS Building Activity statistics released today.

Planning Minister Matthew Guy said the statistics prove the Victorian Coalition Government’s planning reforms are delivering increased housing opportunities and creating more jobs.

“Our strong planning system reforms have made Victoria the best state for investment and development,” Mr Guy said.

“We’re providing more opportunities for Victorians to build and own a new home, whether a house and land package, a townhouse or a central city apartment. We have more affordable purchase prices than cities like Sydney and Perth, because of far greater competition in our construction industry.

“Every house and apartment we build provides more jobs for Victorians.”

Detached house starts rose by 26%, to 8,297 in the March quarter, up from 6,585 in the December quarter on a seasonally adjusted basis. Medium and high density dwellings were up by 3%, to 5,874.

Total dwelling starts were up by 15%, to 14,171 for the quarter. This is 15.8% higher than New South Wales. The value of residential construction in Victoria increased by 5.7%, to $4.1 billion.

Mr Guy warned against Labor’s destructive plans for the construction industry.

“The Napthine Government is boosting construction activity and creating thousands of new jobs in the building industry,” Mr Guy said.

Mr Guy said Plan Melbourne, along with eight Regional Growth Plans, are key planks in the growth management strategy across Victoria. Residential zoning reforms are also directing more growth to areas with better transport, access and local amenity, while protecting quieter neighbourhoods from overdevelopment.

Strong growth in the central city, including the Fishermans Bend urban renewal area, will continue to take development pressure off existing suburbs, while increasing the CBD’s economic strength.

“High density housing shouldn’t be in every street of every suburb and town, as under Labor’s Melbourne 2003 plan,” Mr Guy said.

“In contrast, the Napthine Government is planning to ensure Melbourne remains the world’s most liveable city, and Victoria remains the most affordable state in which to build a new home.”

Source: News Release Premier Denis Napthine, 16 July 2014

http://www.premier.vic.gov.au/media-centre/media-releases/10453-construction-booms-in-victoria.html

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