Reflecting the unprecedented investment in Victorian infrastructure led by the Andrews Labor Government, the Australian Bureau of Statistics (ABS) today shows the value of Victorian construction work done over the past year grew by the highest of all states.
The value of building work done in Victoria rose by more than 9 per cent to $11.2 billion, in direct contrast to activity across Australia which fell by 7.2 per cent over the same time period.
Over the year and in the March quarter, building work done in Victoria grew more than any other jurisdiction, at 12.1 and 4.5 per cent respectively.
In the March quarter, the growth was across the board:
- Increase in residential building work done, $61 million, up 1.1 per cent
- Increase in non-residential building, $296 million, up 11.7 per cent
- Increase in engineering construction work done, $13 million, up 0.5 per cent
With a rapidly expanding population, the Victorian Government’s investment in infrastructure will average $9.6 billion a year for the next four years with funding for key projects in urban and regional transport, health and education – the infrastructure and services that Victorians need and deserve.
The strong investment in infrastructure is also having a positive impact on jobs growth, as evidenced by last week’s ABS jobs data.
In the year to April, Victoria has piled on 115,600 jobs – more than all other states combined – as it reaps the rewards of a healthy and industrious economy spurred on by solid government investment in infrastructure.
Quotes attributable to Treasurer Tim Pallas
“We continue to see the positive results of our agenda for infrastructure over the past three budgets – with record investment focused on what’s most important to our cities, towns and communities.”
“Truly the fastest growing state, Victoria is leading the way in construction work despite the Sydney-centric Turnbull Government short changing our state by severely underfunding Victoria’s key infrastructure projects.”
Reviewed 19 August 2020