Victoria ranks as top building spot

Victoria ranks as top building spot

by 0 comments

Victoria has taken the title as the biggest building hotspot, according the Housing Industry Association (HIA).

According to HIA’s Population and Residential Building Hotspots report released today, Victoria surpassed the nation’s other states and territories as population growth exceeded the national rate of 2.1 per cent and the value of residential building work approved exceeded $100 million for the 2008/09 financial year.

In the suburb of Whittlesea North, Victoria, residential building work approved rose to over $484 million and the population growth rate was 18.3 per cent.

Wyndham South – one of Victoria’s fastest growing cities – showed work value of reaching almost $284 million and the population growth rate was 12.8 per cent.

HIA chief economist Dr Harley Dale said the 2008/09 financial year was a “very challenging” one for Australia’s new home builders and renovators, due to a sharp fall in new home starts and a moderation in renovations activity.

“At the same time, Australia’s population was growing at a historically fast 2.1 per cent pace,” Dr Dale said.

“Last year, there were 58 local area hotspots across Australia’s states and territories and these areas have experienced healthy new home building and renovations activity in 2009/10,” he said.

Other areas posting strong building activity in the 2008/09 financial year included Griffin-Mango Hill in Queensland ($149.9 million), Cardinia/Pake

Victoria has taken the title as the biggest building hotspot, according the Housing Industry Association (HIA).

According to HIA’s Population and Residential Building Hotspots report released today, Victoria surpassed the nation’s other states and territories as population growth exceeded the national rate of 2.1 per cent and the value of residential building work approved exceeded $100 million for the 2008/09 financial year.

In the suburb of Whittlesea North, Victoria, residential building work approved rose to over $484 million and the population growth rate was 18.3 per cent.

Wyndham South – one of Victoria’s fastest growing cities – showed work value of reaching almost $284 million and the population growth rate was 12.8 per cent.

HIA chief economist Dr Harley Dale said the 2008/09 financial year was a “very challenging” one for Australia’s new home builders and renovators, due to a sharp fall in new home starts and a moderation in renovations activity.

“At the same time, Australia’s population was growing at a historically fast 2.1 per cent pace,” Dr Dale said.

“Last year, there were 58 local area hotspots across Australia’s states and territories and these areas have experienced healthy new home building and renovations activity in 2009/10,” he said.

Other areas posting strong building activity in the 2008/09 financial year included Griffin-Mango Hill in Queensland ($149.9 million), Cardinia/Pake

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How difficult is it to maintain a good work/ life balance?

Very – if I’m having balance my competitors are working
Not – I schedule the time into my calendar in advance
A little – It’s scheduled, but something always crops up
Work/ life balance – what’s that?
Do you have an industry update?