Australia’s property growth areas revealed
Australia’s housing hot spots have been revealed, and NSW has dominated the list.
Australia’s housing hot spots have been revealed, and NSW has dominated the list.The Housing Industry Association (HIA) Population & Residential Hotspots 2017 report has identified areas around Australia that have seen population growth of more than the national average, and at least $150 million worth of residential building approved during the year.
The list pinpointed Pimpama in Queensland as the country’s top hot spot, with 35.1% population growth in 2015/16 and more than $340 million in residential building approvals. The Cobbitty-Leppington area of Sydney was second with 27.6% population growth and more than $500 million in building approvals.
Nine of the list’s top 20 hot spots were located in New South Wales, while four NSW areas ranked in the top 10. Victoria followed with four areas ranking in the top 20.
HIA senior economist Shane Garrett said the rankings revealed that there were areas of strong performance outside the nation’s capital cities.
Australia's fastest selling suburbs
“With 2016 representing a record year for new home building activity across Australia, the housing industry has been supporting economic activity in localities up and down the country. The good news on housing is not confined to the major capital cities. Today’s report shows that regional Australia is also peppered with housing Hotspots,” Garrett said.
| Statistical area | Residential building approved 2015/16 | Annual population growth rate |
|---|---|---|
| 1. Pimpama, QLD | $340,201,000 | 35.1% |
| 2. Cobbitty-Leppington, NSW | $506,471,000 | 27.6% |
| 3. Palmerston-South, NT | $231,866,000 | 26.4% |
| 4. Riverstone-Marsden Park, NSW | $598,702,000 | 23.6% |
| 5. Forrestdale-Harrisdale-Piara Waters, WA | $155,426,000 | 17.9% |
| 6. Docklands, Vic | $414,363,000 | 13.2% |
| 7. Homebush Bay-Silverwater, NSW | $365,037,000 | 11.5% |
| 8. Ellenbrook, WA | $205,439,000 | 9.2% |
| 9. Southbank, Vic | $1,063,353,000 | 8.2% |
| 10. Waterloo-Beaconsfield, NSW | $788,997,000 | 7.9% |
| 11. North Lakes-Mango Hill, QLD | $164,811,000 | 7.8% |
| 12. Elderslie-Harrington Park, NSW | $191,807,000 | 7.1% |
| 13. Lyons, NT | $188,415,000 | 7.0% |
| 14. Rouse Hill-Beaumont Hills, NSW | $465,393,000 | 6.8% |
| 15. Newstead-Bowen Hills, QLD | $433,380,000 | 6.4% |
| 16. Arncliffe-Bardwell Valley, NSW | $200,230,000 | 6.3% |
| 17. South Yarra-East, Vic | $185,706,000 | 6.3% |
| 18. Botany, NSW | $264,690,000 | 6.0% |
| 19. Melbourne, Vic | $627,408,000 | 5.9% |
| 20. Ingleburn-Denham Court, NSW | $159,168,000 | 4.4% |
Source: HIA
Image: Shutterstock
