Strong showing for WA in HIA new home building hotspots

Strong showing for WA in HIA new home building hotspots

WHILE conditions may have deteriorated, the Housing Industry Association says there are still many areas in WA where new home building is performing strongly.

The Population and Residential Building Hotspots report into Australia’s fastest growing metropolitan and regional areas identified 14 hotspots in WA where population growth was greater than the national rate of 1.4 per cent and the value of approved residential building work exceeded $100 million in 2014/15.

“WA’s hottest Hotspot was the south-east Perth area of Forrestdale-Harrisdale-Piara Waters, which recorded population growth of 20 per cent and registered $215.7 million worth of new home building approvals during the year,” HIA WA executive director John Gelavis said.

“(The) second biggest Hotspot was Yanchep, where population growth of 14.1 per cent and residential building approvals valued at $356.6 million were recorded.”

Busselton was the strongest regional performer with $126.7 million worth of new home building approvals registered and population growth of 2.4 per cent.

Nationally, WA accounted for five Hotspots in the top 20, more than every other state except Victoria.

WA had two representatives in the national top 10, with Forrestdale-Harrisdale-Piara Waters ranking sixth and Yanchep placing tenth.

The report also identified the WA Hotspots where housing activity was strongest.

Momentum was strongest in the Madeley-Darch-Landsdale area, where the value of residential building approvals is expected to increase by about nine per cent during 2015/16.

Area – Residential Building Approved 2014/15

1. Forrestdale-Harrisdale-Piara Waters – 215,689,000

2. Yanchep – 356,623,000

3. Byford -188,142,000

4. Baldivis – 238,712,000

5. Bertram-Wellard (West) -136,204,000

6. Ellenbrook – 301,737,000

7. Madeley-Darch-Landsdale -111,638,000

8. Mandurah-North – 122,780,000

9. Subiaco-Shenton Park 104,797,000

10. Busselton – 126,693,000

11. Perth City – 257,687,000

12. Rivervale-Kewdale-Cloverdale – 282,992,000

13. Swanbourne-Mount Claremont – 114,063,000

14. Nollamara-Westminster – 100,209,000