This year’s HIA Population & Residential Hotspots 2017 report identifies Pimpama in Queensland as Australia’s Number One housing Hotspot based on its performance during 2015/16. In second place was Sydney’s Cobbitty-Leppington area followed by Palmerston-South in the NT in third place.
“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,” commented HIA Senior Economist Shane Garrett.
“In terms of its economic contribution, the housing industry is truly unique. Today’s report identifies 86 separate areas in every state and territory across Australia where residential building activity is acting as the engine of economic activity, employment and development. Small businesses are particular beneficiaries of housing activity,” concluded Shane Garrett.
The HIA Population & Residential Hotspots 2017 report provides a ranking of Australia’s top 20 Hotspots with three of the country’s top Hotspots in Queensland*.
- Pimpama topped the ladder at number 1 in the country with an annual population growth of 35.1%* and residential build approval in 2015/16 of $340,201,000;
- North Lakes-Mango Hill came in at number 11 with an annual population growth of 7.8%* and residential build approval in 2015/16 of $164,811,000;
- Newstead-Bowen Hills in at number 15 with an annual population growth of 6.4%* and residential build approval in 2015/16 of $433,380,000.
* SAs with in excess of $150 million in residential building work approved in 2015/16 and with an annual population growth rate in excess of the national rate of 1.4%. Nationally, an area qualifies as a Hotspot if its population grew by more than the 1.4 per cent national average during 2015/16 and at least $150 million worth of residential building was approved during the year.