THE value of building permits issued on the Mornington Peninsula last year was up more than 40 per cent up on the previous year.
Data released by the Victorian Building Authority shows the value of permits was $1.08 billion – well up on 2015’s $769.2 million.
It showed the value of building permits issued in the state was a record $32 billion – up 7.6 per cent on 2015.
The shire recorded growth in the value of all building use categories other than Industrial, which fell despite an increase in the number of permits for the category compared with 2015.
The peninsula was one of 12 Victorian municipalities where building permits valued at more than $1 billion were issued last year.
“The VBA data shows there was strong growth in the value of building permits for dwellings on the peninsula, with domestic (housing) rising 17.8 per cent over the previous year and residential (which includes apartments) surging 2196.2 per cent,” VBA chief executive Prue Digby said.
Four of the top five building permits by value reported in the shire during 2016 were for the residential building use category. One was for buildings at Cape Schanck valued at $128 million.
The others were for a winery, hotel and function area at Merricks North, $22.4m; an aged care building and car park at Mornington, $13.5m; 34 apartments, shops, restaurants and basement car park at Rosebud, $12.9m, and an apartment/carpark and retail/office development to complete a project at Mornington, $10.9m.