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

Housing gives the states a leg-up

New releases from the Housing Industry Association (HIA) have shone some important light on just ...
read more

How is Australian investment faring?

Looking at the investment property market, it appears that the industry is thriving. The Australian ...
read more

Council calls for property reform

Buying a property comes with a wide range of fees and taxes, depending on where you buy and the ...
read more