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“Victoria has dominated this year’s HIA Residential Building Hotspots Report, with 11 of Australia’s Top 20 building growth areas all located in Melbourne, Geelong and Ballarat,” stated Executive Director, Fiona Nield.
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.
“The majority of the growth is in the fringe of Melbourne as the city expands,” added Ms Nield.
“Significant infrastructure investment has occurred in this region to accommodate strong population growth in Victoria for several years.
According to the HIA Population & Residential Building Hotspots Report 2021, the Mickleham – Yuroke area, located north of Melbourne’s Tullamarine Airport, is Australia’s number one Hotspot. It had a population growth rate of 32.8 per cent during 2019/20 and $412.1 million in building approvals.
“Mickleham – Yuroke has been a regular in the National Top 20 Building Hotspots list over the past couple of years, along with second on the list, Rockbank – Mount Cottrell.
“It will be interesting to see if this trend of Victoria dominating the national list continues in future editions of this report. COVID-19 has seen a halt to overseas migration, which is a large part of Victoria’s population growth, as well as an increase in the number of residents leaving Melbourne for the rest of the country,” concluded Ms Nield.
The HIA Population & Residential Hotspots 2021 report provides a ranking of Australia’s top 20 Residential Hotspots – as well as individual rankings for each of the states and territories. Of the national Top 20:
Nationally, an area qualifies as a Hotspot if at least $150 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.
The Housing Industry Association (HIA) has tabled its submission calling on the Federal Government to act swiftly on the Productivity Commission’s Five Pillars reforms to lift productivity and unlock new housing supply.
The Housing Industry Association (HIA) has appeared today at the Senate Inquiry into Climate Risk Assessment to advocate that the Federal government should drive a national, coordinated plan to make Australia’s homes stronger and safer in the face of a changing climate.
Opening statement by Simon Croft, Chief Executive Industry & Policy
Eligible small businesses in NSW can apply to SafeWork NSW for a rebate of up to $1,000 on the purchase of safety items. This includes items to help control exposure to silica dust.