Australia's leading building and population hotspots have revealed strong market conditions in certain territories, which is good news for property investors.
The Housing Industry Association (HIA) has published Australia’s top 20 building and population hotspots, with the ACT suburbs of Crace, Bonner and Casey topping the list.
Crace saw its population rise by 58.1 per cent during 2012/2013, coupled with $112 million in new dwelling approvals.
“Present conditions tend to favour buyers when compared to a few years past, which means homebuyers and investors have become pretty savvy when it comes to capital return and rental yield considerations,” said local Mortgage Choice franchisee Susan Tan.
Melbourne CBD came in at number four with over $381 million worth of new dwelling approvals and a population growth of 22.7 per cent.
Eight of the nation’s 20 leading hotspots were located in Victoria, with markets in Western Australia, NSW and Queensland also featuring on the list.
HIA senior economist Shane Garrett described the absence of Tasmania and South Australia from this year’s list for a second year as “disappointing”.