Posted March 07, 2018 07:07:04The home development sector has been a hot area of activity in Victoria for the past year.
With some of the highest vacancy rates in the country, and with a lack of new construction activity, it is a growing area of concern.
In April 2018, the Government announced it was developing a national strategy to promote home development, particularly in the private sector.
Since then, a number of new job opportunities have been announced across the country.
As a result of the new strategy, the Bureau of Statistics announced a job vacancy rate for Victoria of 5.7 per cent, a fall of almost 10 per cent since April 2018.
The government has also announced it will be increasing the minimum wage for domestic staff to $30,000 a year by 2019, a $2.50 increase over the current $23,000 minimum wage.
There are now more than 3,500 jobs in the home development industry, including 2,200 positions in the industry in Victoria.
A further 875 jobs are being created for people working on the construction and maintenance side of the business.
“The growth in the residential construction sector is the result of several factors,” the Government said in its release.
“We are committed to ensuring that the sector is at the forefront of the state’s economy, that the current economic boom is maintained, and that the skills of our workforce are nurtured and maintained.
Victoria is an exciting, innovative and dynamic region.
It has the potential to be the next North America, if we’re lucky enough to keep it.”
We are building a strong, stable economy for our future generations.
Our Government is determined to ensure we deliver the economic growth that will create jobs, create wealth and strengthen our community.
“In its release, the BIS said the industry could generate $6.4 billion to $8.7 billion a year in economic activity.
More:Job vacancies at home developers to fall from 6.7 to 5.6 per cent in the next year