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{{propApi.successMessage}} {{region}} Change locationVictoria Dominates National Residential Building Hotspots List
Victoria Dominates National Residential Building Hotspots List
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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:
- 11 are located in Victoria
- five are in New South Wales
- three are in South-East Queensland
- one is in the ACT
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.
Funding to fast-track trades qualification can help get more homes built quicker
“Today’s announcement from the Labor Government of $78 million in funding to fast track the qualification of up 6,000 tradies is an important initiative which will help get more homes built quicker,” said HIA Managing Director, Jocelyn Martin.
Can the Feds lower housing costs faster than states can increase them?
“As Prime Minister, how would you stop state governments from continuing to increase the taxes on new home building and adding additional red tape?”, asked HIA’s Managing Director, Jocelyn Martin.
Changes to experience requirements for commercial builders
Interested in obtaining your commercial building licence? You may benefit from recent changes to the experience requirements.
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