HOME BUILDING BOOM IN VICTORIA THANKS TO VIC HOME BONUS

HOME BUILDING BOOM IN VICTORIA THANKS TO VIC HOME BONUS

Posted on 25. Aug, 2010 in Victoria

Victoria’s construction workers have been kept busy over the past year despite the ongoing aftershocks of the Global Financial Crisis and the state’s housing construction workers in particular have been run off their feet keeping up with families building new homes.

Treasurer John Lenders said Victoria had seen a 17.4 per cent boom in residential construction over the past year – more than any other state. 

He said the boom was largely due to Victoria handing out the biggest first home bonus for people building their own home of any state in Australia which is currently worth $20,000 in Melbourne and $26,500 in regional Victoria.

“The Brumby Labor Government’s strong leadership is keeping our economy heading in the right direction and Victoria is generating more jobs than any other state,” Mr Lenders said.

“All around the state the sound of hammers and power tools ring out because of the strong investment in home building and the confidence in the Victorian economy.

“Most of Victoria’s builders, plumbers, electricians, carpenters and other trades people are hard at work and are the front line troops keeping the worst of the Global Financial Crisis from crossing the state border.”

Mr Lenders said overall spending on all types of construction projects had increased by 10.2 per over the past year – ahead of the national figure of 8.3 per cent – reflecting that Victoria was the job-creating capital of the nation.

“We have created over 98,000 Victorian jobs over the past year, more than any other state because we have provided record investment in job-creating infrastructure,” Mr Lenders said.

“This includes recession-busting programs like the Building the Education Revolution in partnership with Julia Gillard and state infrastructure investments like the Victorian desalination plant and the M1 upgrade.”

Mr Lenders said while quarterly figures bounced around from quarter to quarter the ABS had also reported that Victoria had the second highest construction activity for the June quarter – behind the mining boom state of Western Australia.

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