Construction Growth Strong in 2017/18
Tuesday 20 November 2018
The 2017/18 financial year was another period of strong development in Albury Wodonga with a combined 1,810 construction certificates issued to a value of over $376 million.
These strong construction figures in 2017/18 included both residential and commercial development, boosting confidence in the overall economic position of the region.
The construction sector is a significant contributor to the Albury Wodonga economy employing well over 4,000 people and adding more than $629 million to the economy.
Highlights of the 2017/18 financial year included the construction and opening of Wodonga Place Shopping Centre, the Bunnings superstore, the Mantra Hotel, Mann Central Shopping Centre and the Kiewa Street Carpark.
The recently released Albury Development Monitor 2017-18 also provides insight into the creation of residential lots around the city. A total of 47% of the 251 new vacant lots produced were in Albury’s growth corridor in Thurgoona or Wirlinga. The average sale price of vacant lots in Albury for the year 2017 was $155,593.
Similarly, Wodonga growth in residential vacant lot production was strong with 495 new lots created during 2017/18 and a total of 230 lots consumed. The average sale price of vacant lots in Wodonga for the year was $158,614.
Visit the Development and Construction Resources page on the investAlburyWodonga.com.au to download a copy of the report, or for additional statistics and information.