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.

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Peard Real Estate is an award winning network of boutique offices throughout Western Australia delivering innovative property solutions, services and results for home owners, landlords and investors.
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