Home News A tale of one city: Melbourne suburbs top fastest-growing list

A tale of one city: Melbourne suburbs top fastest-growing list

Font size :

Melbourne suburbs dominated the fastest-growing list based on population growth and building projects

Some of the fastest growing suburbs in Australia are nestled in Melbourne, cementing the reputation of the city as a property hotspot.

The latest report and rankings by the Housing Industry Association (HIA) revealed that 12 of the 20 top suburbs in the country are in or around Melbourne. HIA defined hotspots as areas with areas with population growth rate outpacing the national pace.

"The growth is mostly on the fringes of Melbourne as it expands to the North and South East," the report said.

Topping the list is Mickleham-Yuroke, which had an annual population growth of 35.3%. The suburb saw the commencement of $223m worth of residential buildings. It was followed by Queensland's Pimpama (30.8%), and another Melbourne outlying suburb Cranbourne East (27.4%).

Other Melbourne suburbs which cracked the top 20 are Wollert, Docklands, Beaconsfield-Officer, Point Cook-East, Truganina, Cranbourne West, Melton South, Tarneit, and Southbank.

"With a large value of work still to be commenced, no downturn evident in approvals, and population growth still exceeding 2%, Melbourne and its surrounding areas are likely to produce many Hotspots for building activity into 2019," HIA noted.

Sydney's western and southwestern suburbs are also gaining traction. HIA said the huge volume of residential approvals in Leppington, Parramatta, and Blacktown is expected to gain traction.

Meanwhile, Queensland's south-eastern corner is the state's bright spot with robust population growth brought about by a solid improvement in employment.

"In Queensland, the remaining Hotspots include Coomera, a regular on Hotspots, and South Brisbane where the apartment boom has resulted in significant approvals and population growth," HIA said.

Related Stories:
Which Victorian suburbs have the cheapest homes?
The most affordable Melbourne suburbs for first-home buyers

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

5 tips to help you buy in a slow housing market 5 tips to help you buy in a slow housing market

A buyer's market is not as easy to navigate to as it seems Read more

Australia to remain world's worst-performing housing market this year – report Australia to remain world's worst-performing housing market this year – report Don't expect a rebound in prices anytime soon ... Read more

This historic Italian town sells homes for a little over $1 This historic Italian town sells homes for a little over $1 The catch? You have to promise to renovate the home within the next three years ... Read more

How bad will the housing downturn turn out this year? How bad will the housing downturn turn out this year? While the worst is yet to come, a crash is still unlikely ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Jan 19, 2019
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords