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

Increased Chinese investor activity in Melbourne's central business district

A number of Chinese property investors have been buying up large sections of Melbourne's ...
read more

Commercial property to receive sustainable upgrade in Victoria

Commercial property in Victoria is about have an opportunity to increase their sustainability, as ...
read more

Sustainable initiative for Victorian commercial property

Victorian commercial real estate will have a helping hand to turn over a new leaf and increase ...
read more

Latest Articles

Support for Sydney businesses aims to improve the city's economy

Sydney's new Economic Development Strategy has been backed by businesses across the city, with ...
read more

Western Australian economy continues to grow

The State of the States report released by Commsec late last month (January 17) has ...
read more

South Australian export growth good news for potential investment

South Australia could be a great location to consider purchasing investment property in over ...
read more