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$vuetify.icons.faPhone1300 650 620

HIA Releases ACT Hotspots List

Media Release

HIA Releases ACT Hotspots List

Media Release
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.
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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
 
Source: HIA Economics

Mike Hermon

Executive Director - Planning & Development at Housing

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