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

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

$9.3 million allocated for Melbourne growth areas

The new Community Infrastructure Fund will provide $9.3 million for 14 projects in Melbourne's ...
read more

Latest Articles

Sale opportunities as capital city property prices soar

Anyone interested in selling their capital city property could be interested in the ...
read more

Increased construction figures across New South Wales highlight investment strength

Buyers looking for a great area to consider land investment and property construction in the near ...
read more

Home equity: Are you using it to your advantage?

Research released late last month has found just 11 per cent of homeowners are looking to use their ...
read more