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Four WA areas listed in Australia’s Top 20 Hotspots for 2014

Four West Australian statistical areas have been recognised by The Housing Industry Association Economics Group as ‘national hotspots’ in terms of population and residential building approvals for the financial year 2013/14.  

The Population and Residential Building Construction report is a unique publication that focuses on providing a snapshot of Australia’s fastest growing metropolitan and regional areas each financial year.

For the purpose of the report, a ‘hotspot’ was categorised as a statistical area which are regions defined by the Australian Geographical Statistical Geography Standard.

To qualify for this report, statistical areas throughout WA needed a 2012-13 population growth higher than the national average of 1.8 per cent and approved residential building work in excess of $100 million.

Of the 2193 statistical areas considered, 698 had population growth rates greater than 1.8 per cent and only 50 of these recorded over $100 million of new residential building work approved.

National Top 20 Building and Population Hotspots

Statistical Areas

State/Territory

Residential Building Approved 2012/13 ($’000)

Annual Populations Growth Rate (%)

1

Crace

ACT

111,958

58.1

2

Bonner

ACT

121,001

43.3

3

Casey

ACT

131,587

40.6

4

Melbourne

VIC

385,148

22.7

5

Abbotsford

VIC

135,982

19.7

6

Forrestdale – Harrisdale – Piara Waters

WA

183,297

19.1

7

Cranbourne East

VIC

188,619

16.5

8

Baldivis

WA

250,228

15.8

9

Docklands

VIC

100,000

15.3

10

Yanchep

WA

179,913

14.8

11

Parklea – Kellyville Ridge

NSW

178,677

13.3

12

South Morang

VIC

277,151

12.6

13

Truganina

VIC

105,593

11.0

14

Cobbitty – Leppington

NSW

174,607

10.8

15

Ellenbrook

WA

200,993

9.3

16

Homebush Bay – Silverwater

NSW

257,905

9.2

17

Epping

VIC

192,660

9.1

18

Deeragun

QLD

149,431

8.9

19

North Lakes – Mango Hill

QLD

155,139

8.8

20

Point Cook

VIC

203,715

8.7

 

The Housing Industry Association Economics Group also noted that they have identified very strong leading indicators of activity throughout WA, with new home activity continuing to grow.

This data was most evident in the second half of 2013, and therefore will be showcased in next year’s edition of the Population and Residential Building Hotspots report.

Suburb Snapshots

Forrestdale –

  • Median House Price = $515,000

  • Days on the market = 68

  • Population = 72.1 per cent 15- 65 year olds. Mainly established couples and families.

  • Located 28.5km south of Perth.

Harrisdale –

  • Median House Price = $577,500

  • Days on the market = 72

  • Population = 72.0 per cent 15-65 year olds. Mainly maturing couples and families.

  • Located 28km south of Perth.

Piara Waters –

  • Median House Price = $554,000

  • Days on the market = 51

  • Population = 75.0 per cent 15-65 year olds. Mainly independent youths.

  • Located 27km south of Perth.

Baldivis -

  • Median House Price = $467,000

  • Days on the market = 82

  • Population = 62.2 per cent 15-65 year olds. Mainly maturing couples and families.

  • Located 45.7km south of Perth.

Yanchep -

  • Median House Price = $426,000

  • Days on the market = 120

  • Population = 62.2 per cent 15-65 year olds. Mainly established couples and families.

  • Located 56.3km north of Perth.

Ellenbrook -

  • Median House Price = $434,000

  • Days on the market = 54

  • Population = 64.2 per cent 15-65 year olds. Mainly maturing couples and families.

  • Located 37.3km north of Perth.