Regional Australia's housing on the grow

Regional Australia's housing on the grow

Housing supply is enjoying strong increases in numerous regional hotspots throughout Australia, as well as many metro areas, according to a new housing industry report.

The annual report from the Housing Industry Association (HIA), Population & Residential Hotspots 2017, shows the areas around Australia that experienced higher than average population growth in the previous year, as well as at least $150 million worth of residential building approvals.

Conclusions from the report:

  • 86 hotspots were found across Australia;
  • 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.

HIA senior economist, Shane Garrett, said:

“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.”

This popularity of regional housing is consistent with recent figures from the Real Estate Institute of Vitoria (REIV), which showed that rental yields in regional Victoria were higher than rental yields for similar properties in the state’s metro areas.

Area State/Territory Residential building approved 2015/2016 Annual population growth rate
Pimpama QLD $340,201,000 35.1%
Cobbity/Leppington NSW $506,471,000 27.6%
Palmerston/South NT $231,866,000 26.4%
Riverstone – Marsden Park NSW $598,702,000 23.6%
Forrestdale/Harrisdale/Piara Waters WA $155,426,000 17.9%
Docklands VIC $414,363,000 13.2%
Homebush Bay/Silverwater NSW $365,037,000 11.5%
Ellenbrook WA $205,439,000 9.2%
Southbank VIC $1,063,353,000 8.2%
Waterloo/Beaconsfield NSW $788,997,000 7.9%
North Lakes/Mango Hill QLD $164,811,000 7.8%
Elderslie/Harrington Park NSW $191,807,000 7.1%
Lyons (NT) NT $188,415,000 7%
Rouse Hill/Beaumont Hill NSW $465,393,000 6.8%
Newstead/Bowen Hills QLD $433,380,000 6.4%
Arncliffe/Bardwell Valley NSW $200,230,000 6.3%
South Yarra/East VIC $185,706,000 6.3%
Botany NSW $264,690,000 6%
Melbourne VIC $627,408,000 5.9%
Ingleburn/Denham Court NSW $159,168,000 4.4%

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