The Housing Industry Association (HIA) predicts that 2021 will be a banner year for single-family home construction activity – but which markets have seen the most activity?
In the 12 months to September 2021, approximately 146,000 single-family homes are expected to begin construction. Much of these planned starts are located in regional areas.
"Australia's population growth has been limited due to border closures. COVID-19 has also seen consumer preferences shift from a downtown apartment style to individual dwellings in regional areas, "said Angela Lillicrap, an economist at the HIA.
An area is considered a hotspot if it has at least $ 150 million in residential construction work approved in the previous fiscal year and its population is growing faster than the national average of 1.3 %. The HIA has listed 20 construction hotspots, including 11 in Victoria.
Victoria & # 39; s Mickleham – Yuroke has been identified by the HIA as the prime location for construction activity. The market recorded a population growth rate of 32.8% and $ 412.1 million in building permits.
The table below shows the 20 hot spots for construction activity:
Top Suburbs:
the tweed is heading south
,
windale
,
padbury
,
ferntree ravine
,
belmont
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