Australia’s fastest growing housing markets have been revealed in the HIA’s latest Population & Residential Building Hotspots 2017 report just published.
This year’s HIA Population & Residential Hotspots 2017 report identifies Pimpama in Queensland as Australia’s Number One housing Hotspot based on its performance during 2015/16. In second place was Sydney’s Cobbitty-Leppington area followed by Palmerston-South in the NT in third place. The national Top 20 is summarised in the table below.
“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,” said HIA Senior Economist Shane Garrett.
“In terms of its economic contribution, the housing industry is truly unique. Today’s report identifies 86 separate areas in every state and territory across Australia where residential building activity is acting as the engine of economic activity, employment and development. Small businesses are particular beneficiaries of housing activity.”
The HIA Population & Residential Hotspots 2017 report provides a ranking of Australia’s top 20 Hotspots:
Nine of the Top 20 Hotspots are located in New South Wales;
Victoria contains four of the national Top 20;
Three of the country’s top Hotspots are in Queensland;
Western Australia and the Northern Territory each contain two major Hotspots;
South Australia and Tasmania each contain five housing Hotspots;
A further nine Hotspots are located in the ACT.
Nationally, an area qualifies as a Hotspot if its population grew by more than the 1.4 per cent national average during 2015/16 and at least $150 million worth of residential building was approved during the year.
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