Master Builders Victoria (MBV) analysis of monthly lending figures for December 2021 show that Victorian borrowings for home renovations jobs remains very high.

However, the average size of the loans has started to shrink quite substantially over recent months – both for investors and owner-occupiers.

During the last three months of 2021, the number of loans to owner-occupiers for home renovations was 77.8 per cent higher than a year earlier, with the pace of growth even stronger for investors (+87.2 per cent).

TPG Telecom has announced a new strategic technology partnership with Master Builders Victoria (MBV) to lead their digital transformation.

As TPG Telecom positions itself as a key technology partner for small and medium businesses, the new partnership will utilise the telco’s infrastructure, reach, innovation, and connectivity solutions to empower MBV to grow.

Under the new partnership, TPG Telecom will provide MBV with a network security solution led by its recently launched SD-WAN solution and powered by TPG’s national fibre infrastructure.

Easton Pty Ltd has been named Master Builders Victoria Residential Master Builder of the Year for its stunning construction of a prestige Toorak property. 

At a gala awards ceremony at Crown Melbourne last night (Friday), the impressive construction of the outstanding Toorak property took out the top prize.

Master Builders Victoria (MBV) CEO Rebecca Casson congratulated Easton Pty Ltd and the other major award winners on their success.

Maben Group Pty Ltd has been named Master Builders Victoria Commercial Master Builder of the Year for its stunning upgrade to the Highpoint shopping centre in Maribyrnong. 

Last night (Thursday) at Crown Melbourne, Master Builders Victoria (MBV) CEO Rebecca Casson congratulated Maben Group Pty Ltd and other major award winners at a gala awards ceremony. 

“Once again, our Excellence in Construction Awards were brimming with outstanding work that improves the lives of Victorians throughout our great state,” she said. 

The latest data from the Australian Bureau of Statistics (ABS) has revealed that the number of Victorian new residential building approvals has returned to pre-pandemic levels as the building and construction industry continues to lead the state’s COVID-19 recovery.

Master Builders Victoria (MBV) CEO Rebecca Casson said Victoria passed 70,463 new residential building approvals in the 12 months to November 2021 – the highest level for three years.

“Our state has not seen yearly residential building approval totals exceed 70,000 since 2018,” Ms Casson said.

Master Builders Victoria (MBV) fears soaring costs for materials, combined with labour shortages, will see more building and construction companies forced into insolvency.

The cost of building a home in Victoria is rising faster than in any other state because supply prices have hiked.

MBV CEO Rebecca Casson said one of the biggest challenges facing Victorian building and construction companies was escalating building product prices and supply shortages.

Master Builders Victoria (MBV) asks consumers to be kind and patient with builders and tradespeople this festive season as the building and construction industry continues to suffer from supply shortages.

MBV CEO Rebecca Casson said ongoing building materials shortages resulting from COVID-19 disruptions and shipping delays, along with natural disasters and industrial action, have increased the pressure on builders and tradespeople.

Master Builders Victoria (MBV) analysis of Australian Bureau of Statistics (ABS) data from October 2021 shows more strong growth in the value of loans for housing but declines in owner-occupier lending.    

There has been strong growth in the number of loans to Victorian housing investors to construct new homes, purchase residential land, and do home renovations.  However, the number of loans for investors to purchase newly built homes has fallen back down to 375, the same figure as earlier this year.