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{{propApi.successMessage}} {{region}} Change locationHome building hotspots in North Queensland revealed
Home building hotspots in North Queensland revealed
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“There were five areas in North Queensland that were identified as home building and population hotspots,” stated HIA Executive Director - North Queensland, Peter Fry.
Thursday, 23rd May 2024
HIA today revealed Australia’s strongest markets for home building in the 2024 edition of the HIA Population and 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.
An area (Statistical Area Level 2) qualifies as a ‘hotspot’ in North Queensland if at least $50 million worth of residential building work were approved during the 2022/23 financial year, and its population grows faster than the national growth rate of 2.4 per cent.
“The number one hotspot in North Queensland was Trinity Beach - Smithfield in Cairns. It recorded a population growth rate of 4.6 per cent in 2022/23 and new home building approvals valued at $92.9 million,” added Mr Fry.
“This was followed by Bohle Plains in Townsville, with its population growing by 4.4 per cent and the value of new home building approvals in 2022/23 at $55 million.
“Third place went to Airlie Beach- Whitsundays, with an impressive $160.5 million in approvals but a comparatively smaller 4.0 per cent population growth rate in 2022/23.
“Yeppoon in Central Queensland deserves to be mentioned despite not being on the list. It registered a population growth rate just equal that of the national rate, 2.4 per cent, but total new approvals were valued at $65 million in 2022/23.
“The results of the hotspots report show the intrinsic link between population growth and home building. As North Queensland’s economy and population grow, home building must keep up to support broader activity,” concluded Mr Fry.
Download report
Below is a table of the five HIA North Queensland Region Hotspots.
An area (Statistical Area Level 2) qualifies as a ‘hotspot’ in North Queensland if at least $50 million worth of residential building work were approved during the 2022/23 financial year, and its population grows faster than the national growth rate of 2.4 per cent.
“The number one hotspot in North Queensland was Trinity Beach - Smithfield in Cairns. It recorded a population growth rate of 4.6 per cent in 2022/23 and new home building approvals valued at $92.9 million,” added Mr Fry.
“This was followed by Bohle Plains in Townsville, with its population growing by 4.4 per cent and the value of new home building approvals in 2022/23 at $55 million.
“Third place went to Airlie Beach- Whitsundays, with an impressive $160.5 million in approvals but a comparatively smaller 4.0 per cent population growth rate in 2022/23.
“Yeppoon in Central Queensland deserves to be mentioned despite not being on the list. It registered a population growth rate just equal that of the national rate, 2.4 per cent, but total new approvals were valued at $65 million in 2022/23.
“The results of the hotspots report show the intrinsic link between population growth and home building. As North Queensland’s economy and population grow, home building must keep up to support broader activity,” concluded Mr Fry.
Download report
Below is a table of the five HIA North Queensland Region Hotspots.
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