Victoria is leading the nation when it comes to building major infrastructure, with new data showing the value of construction work grew by more than 15 per cent in 2018 – the highest growth rate in Australia.
Australian Bureau of Statistics data today confirmed the value of construction work done in Victoria has grown to $54.5 billion in 2018 – more than a quarter of the national total.
Victoria’s growth is a sharp contrast to the value of construction work done throughout Australia, which decreased by 2.6 per cent last year.
Victoria also topped quarterly growth for construction work done in December – ahead of all the other states and above the national average.
The value of engineering construction in Victoria grew by a massive 30.5 per cent in 2018, the highest growth rate in the nation, totalling more than $17 billion.
Meanwhile, the value of residential and non-residential building work done in Victoria increased 9.1 per cent to $37.3 billion in 2018.
Victoria’s construction industry strength continues to drive more jobs across the state.
Since the Andrews Labor Government was first elected, more than 440,000 people have found a job in Victoria – 71 per cent of these full-time roles – the highest growth rate in the nation.
Quotes attributable to Treasurer Tim Pallas
“The Victorian economy continues to set the national pace and our major infrastructure pipeline for the construction industry continues to play a major role in our success.”
“We’ve more than doubled infrastructure investment to an average of $10.6 billion over the four years to 2021-22 compared to the long run average.”
“We’re investing in the projects that will shape our state for the better – and ensuring Victorians are benefiting from vital jobs along the way.”