The 20 Suburbs Where Property Markets Are Growing Fastest

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

    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.

    Last edited 07/07/14 12:34 pm

      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.

      Last edited 07/07/14 12:57 pm

      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.

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