Commercial building stays steady

The value of commercial building permits in Victoria increased in the March quarter, despite there being a fall in the state’s building industry overall.

Building Commissioner Tony Arnel says that when compared to the same period in 2008, the value of building permits in the state has decreased by 11 per cent to reach below $4.2 billion!

Looking at the data for building use, commercial building permits is the only building use category to increase, up eight per cent to $793 million!

Hospital and healthcare recorded the biggest fall in the quarter dropping 55%, industrial fell by 46%, public buildings by 4%, retail by nearly 27%, residential by 17% and domestic by 3%!

According to Mr. Arnel, North Central is the only Victorian region that experienced an increase in the value of permits issued.

It had nearly a 23 per cent increase when compared to the same period in 2008.