1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Increases in commercial and retail building permit activity in Melbourne

December 05, 2011

Inner Melbourne alone experienced 24 per cent growth in the value of building permit activity during the ten months leading to October 11 compared with the same period last year, according to new figures published by the Building Commission.

The data indicated that the value of building permit activity is generally on the increase, with growth recorded in a total of five of seven categories, according to deputy building commissioner Neil Savery.

But while inner Melbourne is "leading the way", Savery said rural areas of the state did not fare as well, with a 13 per cent fall during the same time period.

According to the latest pulse research, the value of commercial building permits reached $2.3 billion - an increase of 16 per cent. Retail saw an even larger rise, experiencing a 53 per cent leap to 1.3 billion.

Commercial properties in Melbourne are set to undergo something of a "retrofitting revolution", according to Cathy Oke, chair of the Future Melbourne (Eco-City) Committee.

The local authority is working to connect building owners with funding that would enable them to make older office buildings across the CBD more energy efficient.

Oke said the council's "ambitious plan" could result in the retrofitting of more than 1,200 buildings across Melbourne's city centre.



 



Related Articles

Stamp duty slashed in Victoria

Buying a property often comes with many additional fees, such as conveyancing and title transfers. ...
read more

Roaring demand makes outer suburbs perfect places to sell your property

Melbourne's outer suburbs are becoming hot spots to buy property, whether to own or invest, ...
read more

Slice of shopping heaven planned for Melbourne suburbs

Residents of Melbourne's southeastern suburbs are due to have their shopping horizons ...
read more

Latest Articles

How strong is the NSW property market?

When it comes to making a purchase in the property market, it seems hard to beat the strength of ...
read more

Building booms across many sectors

There are numerous indicators of strength in the housing industry, and one strong signal of future ...
read more

Cash rate at a standstill

One crucial driver of housing demand is the official cash rate from the Reserve Bank of ...
read more