THE recent release of statistics from the ABS for building approvals data for December 2018 has shown that regional Victoria continues to outperform the Melbourne region.
According to the statistics, greater recent growth (relative to the August 2016 quarter peak in Melbourne) came from Geelong (up by 29.2 percent) and Shepparton (up by 27.4 percent).
HIA regional executive director Victoria, Fiona Nield said, “We have seen building activity in Melbourne slow towards the end of 2018 but this slowdown is not state-wide.
“Since the peak in approvals in Melbourne in the August 2016 quarter, approvals have fallen 22.5 percent to this December 2018 quarter. This puts them down 2.5 percent from their longer term average.
“Regional Victoria however, is up 17.2 percent since Melbourne’s peak and up 22.8 percent from its longer term average.
“The strength in Regional Victoria provides a solid offset for any declines we might see as building approvals slow in Melbourne.
“Continued population growth and infrastructure investment by the State Government will support strong levels of building activity for the state.”
