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 (%)|
|6||Forrestdale – Harrisdale – Piara Waters||WA||183,297||19.1|
|11||Parklea – Kellyville Ridge||NSW||178,677||13.3|
|14||Cobbitty – Leppington||NSW||174,607||10.8|
|16||Homebush Bay – Silverwater||NSW||257,905||9.2|
|19||North Lakes – Mango Hill||QLD||155,139||8.8|
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.
- 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.
- 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.
- 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.
- 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.
- 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.