Victoria issued a total of 113,670 building permits in the past financial year reaching a total worth of $23.9 billion and according to the latest figures published by the Building Commission on Thursday, loan grants for the state's first home buyers spiked up by 30 percent to $13.1 billion in 2009/10.

Planning Minister Justin Madden said that the building permits for public buildings increased by 149 percent while construction permits for the hospital and health care sector peaked by 52.5 percent in the previous financial year.

Mr Madden attributed the spikes to the federal government's stimulus package, adding that the 2009/10 financial year was the best performing year ever for Victoria, which was 17 percent better from the state's building industry's previous high in 2007/08.

He noted that the results were achieved at a time when international economic uncertainty dominated the scene, which only underscored that the state's outstanding performance.

Mr Madden added that "the stimulus programs were designed to assist the building industry maintain momentum through what was anticipated to be a very difficult period, so to have achieved record levels of building permit activity is a very positive outcome."