20 fastest-growing housing markets uncovered

The association says the report is a “directory of the nation’s fastest growing local housing markets”.

The Australian Capital Territory (ACT) took out first, second and third places on the list. Crace, which came in at number one, had a population growth rate of 58.1 per cent during 2012/2013 and $112 million worth of new dwelling approvals. Second-placed Bonner saw its population rise by 43.3 per cent with approvals worth $121 million.

There were also four Victorian localities and three WA markets in the top 10. The top 20 included three NSW suburbs and two markets in Queensland.

HIA senior economist Shane Garrett said the report shows the expansion in activity has been broad, with a good showing by most states.

“Further strong growth during 2013/2014 means that we can look forward to the Hotspots club gaining more new members in the next report,” Mr Garrett said.

“Despite much of the gloom related to the federal government’s fiscal situation, the ACT’s residential construction industry is forging ahead with its long-term plans.

“Victoria’s home builders have also persevered with providing new dwellings for the state’s increasing population, despite much of the gloomy mood music that has played.”

The full list of suburbs can be seen below.

National Top 20 Building and Population Hotspots
*SAs with excess of $100 million in residential building work approved in 2012/2013 and with an annual population growth rate in excess of the national rate of 1.8 per cent

Source: HIA