Looking for a new investment property in a fast-growing suburb? Surprisingly, your best bet might be to look in Canberra.
House picture from Shutterstock
As Business Insider reports, the Housing Industry Association (HIA) has released its list of the fastest-growing markets.
To make the list, the suburb had to have attracted at least $100 million in new dwelling approvals in 2012-2013, and seen population growth above the national average of 1.8 per cent. The ranking is based on population growth. Here are the top 20:
| Suburb | State | Approvals ($’000) | Population growth % |
|---|---|---|---|
| Crace | ACT | 111,958 | 58.1 |
| Bonner | ACT | 121,001 | 43.3 |
| Casey | ACT | 131,587 | 40.6 |
| Melbourne | VIC | 385,148 | 22.7 |
| Abbotsford | VIC | 135,982 | 19.7 |
| Forrestdale/Harrisdale/Piara Waters | WA | 183,297 | 19.1 |
| Cranbourne East | VIC | 188,619 | 16.5 |
| Baldivis | WA | 250,228 | 15.8 |
| Docklands | VIC | 100,000 | 15.3 |
| Yanchep | WA | 179,913 | 14.8 |
| Parklea/Kellyville Ridge | NSW | 178,677 | 13.3 |
| South Morang | VIC | 277,151 | 12.6 |
| Truganina | VIC | 105,593 | 11.0 |
| Cobbitty/Leppington | NSW | 174,607 | 10.8 |
| Ellenbrook | WA | 200,993 | 9.3 |
| Homebush Bay/Silverwater | NSW | 257,905 | 9.2 |
| Epping | VIC | 192,660 | 9.1 |
| Deeragun | QLD | 149,431 | 8.9 |
| North Lakes/Mango Hill | QLD | 155,139 | 8.8 |
| Point Cook | VIC | 203,715 | 8.7 |
We’ve also placed those suburbs on a map so you can locate them:
Population growth obviously isn’t the only measure to consider when buying a property. Desirable areas which have blocked further expansion can also be a good choice, but will often have a higher price tag.
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Comments
9 responses to “The 20 Suburbs Where Property Markets Are Growing Fastest”
Ah beware the beauty of statistics. The 3 suburbs at the top of the list are all from the ACT. They are growing because they are new developments of a whole new suburb. 40-60% is not so impressive when the initial number is so low.
Yep as a Cranberran that really stood out to me immediately. I really don’t think this is the best metric for deciding where to invest.
Are you from Cranberryville?
Nope. Cranberry. Our nation’s capital bro. Read a book!
Thats so 1999.
DAMMIT! I almost linked to Canberra’s wikipedia page.
Northlakes/Mango hill has also see a lot of new estates being built, not to mention large shopping precincts and warehouses.
I would hazard a guess that a fair chunk are new estates.
Melbourne and Docklands are probably quite deceptive too since they will be apartment buildings. They cost heaps to put up and include a set number of residents
Have 10 apartment buildings, build 1 and Bam instant 10% population increase… And it might all be from a single “approval”
While I agree with you, the second point is addressed by the value of the approvals, not the number.