This dataset shows the total assessed value of building approvals for construction in City of Merri-bek by financial year in millions of dollars. The dataset is updated monthly to include the current financial year to date, and includes residential and non-residential building approvals separately. The percentage of the state total is shown.
Building approvals for an area can be highly variable over time, particularly in the non-residential sector. Construction may take several years from the date of approval. A high rate of building approvals can indicate a growth area with a construction-led economy. A low rate of building approvals may indicate a settled area with established infrastructure, or an area with little growth. Note that this dataset is not adjusted for inflation.
| Value of total building approvals | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| City of Merri-bek | Victoria | ||||||||
| Financial year | Residential $('000') | Non-residential $('000') | Total $('000') | Residential $('000') | Non-residential $('000') | Total $('000') | City of Merri-bek as a % of Victoria | ||
| 2024-25 FYTD (February) | 85,183 | 29,430 | 114,613 | 22,645,227 | 13,422,195 | 36,067,422 | 0.3% | ||
| 2023-24 | 593,626 | 161,717 | 755,343 | 29,089,752 | 18,240,391 | 47,330,143 | 1.6% | ||
| 2022-23 | 856,972 | 258,830 | 1,115,802 | 29,051,166 | 20,057,453 | 49,108,619 | 2.3% | ||
| 2021-22 | 1,015,559 | 163,923 | 1,179,481 | 29,984,036 | 17,740,407 | 47,724,443 | 2.5% | ||
| 2020-21 | 484,061 | 142,303 | 626,364 | 27,276,215 | 15,139,316 | 42,415,531 | 1.5% | ||
| 2019-20 | 580,944 | 217,265 | 798,209 | 24,309,652 | 16,254,680 | 40,564,333 | 2.0% | ||
| 2018-19 | 445,048 | 48,815 | 493,863 | 24,187,178 | 16,015,354 | 40,202,531 | 1.2% | ||
| 2017-18 | 817,827 | 122,475 | 940,302 | 27,428,082 | 15,039,411 | 42,467,492 | 2.2% | ||
Source: Australian Bureau of Statistics, Building Approvals, Australia, catalogue number 8731.0. Compiled and presented in economy.id by .id (informed decisions) Please refer to specific data notes for more information | |||||||||