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{{propApi.successMessage}} {{region}} Change locationHIA releases ACT hotspots list
HIA releases ACT hotspots list
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“West Belconnen, which includes Ginninderry, has been announced as the ACT’s number one building Hotspot with a population growth rate of 666.7 per cent and $55.0 million in building approvals,” stated Executive Director, Greg Weller.
HIA today reveals Australia’s strongest markets for home building in the 2021 edition of the HIA Population & Residential Building Hotspots Report. The Report is aimed at finding employment growth areas targeted towards builders and tradies and identifies Hotspots in all states and territories.
“West Belconnen is a new addition to the ACT Building Hotspots list. It is followed by second on the list, Taylor, with $72.9 million in building approvals,” added Mr Weller.
“A record year for detached house building is underway with over 146,000 detached starts expected in the 12 months to September 2021.
“Australia’s population growth has been constrained due to closed borders. COVID-19 has also seen consumer preferences shift away from inner-city apartment style living to detached housing in regional areas.
“This shift could see more regional areas in the next edition of HIA’s Population and Building Hotspots Report,” concluded Mr Weller.
An area qualifies as a Hotspot in the ACT if at least $50 million worth of residential building work was approved during the 2019/20 financial year, and its rate of population growth is faster than the 1.3 per cent national average.
ACT Building and Population Hotspots**
**SAs with in excess of $50 million in residential building work approved in 2019/20 and with an annual population growth rate in excess of the national rate of 1.3%
| Statistical Area Level 2 | Statistical Area Level 3 | Residential Building Approved, 2019/20 ($'000) | Annual Population Growth Rate (%) |
| 1. West Belconnen | Belconnen | 54,946 | 666.7 |
| 2. Taylor | Gungahlin | 72,853 | 124.5 |
| 3. Denman Prospect | Molonglo | 87,577 | 103.6 |
| 4. Throsby | Gungahlin | 51,630 | 71.1 |
| 5. Greenway | Tuggeranong | 165,835 | 8.3 |
| 6. Dickson | North Canberra | 105,503 | 5.5 |
| 7. Braddon | North Canberra | 104,663 | 5.3 |
| 8. Reid | North Canberra | 164,782 | 2.2 |
| 9. Narrabundah | South Canberra | 63,290 | 1.8 |
Access to skilled labour a barrier to 1.2 million new homes
“The influx of overseas migrants into Australia in the last couple of years has added significant demand for new homes. Despite this, skilled trades in the residential sector are not recognised on the Australian government’s Skills Priority List,” stated HIA Senior Economist Tom Devitt.
Victoria should not accept mediocre Housing Scorecard result
HIA has released its Housing Scorecard. Once again Victoria is underperforming. With the Victorian State Budget next month there is also a risk that unnecessary tax increases will entrench this poor outcome.
Cuts to taxes on housing will be increasingly necessary to improve housing supply as interest rates remain high
“Today’s CPI figures are likely to see interest rates remain high for longer as inflation becomes increasingly embedded in the economy,” stated HIA’s Chief Economist, Tim Reardon
South Australia tops Housing Scorecard again
“South Australia has once again taken out the top spot in HIA’s Housing Scorecard,” stated Stephen Knight, HIA Executive Director.