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Builders hard at work in fast-growing outer suburbs

Residential construction is booming in some outer suburbs of Sydney, Melbourne and Brisbane, according to the Housing Industry Association.

The HIA's new Population & Residential Building Hotspots Report has identified the top 20 homebuilding hotspots in Australia (see chart).

Of the 20 hotspots, 17 are in capital cities, with most of those in the outer suburbs.

To qualify as a hotspot, an area must:

* Be experiencing population growth faster than the 1.3% national average

* Have approved $150m of residential building work in the 2019-20 financial year

The HIA has forecast that a record 146,000 homebuilding projects will be started in the 12 months to September 2021, thanks in part to the HomeBuilder grant, which was in place from June 2020 to March 2021.

#property #realestate #housing

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