The 20 Suburbs Where Property Markets Are Growing Fastest

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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