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 %|
|North Lakes/Mango Hill||QLD||155,139||8.8|
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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