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Gungahlin region leads Housing Industry Association list of fast-growing suburbs

Gungahlin region leads Housing Industry Association list of fast-growing suburbs

31 May 2017 Emma Kelly

Gungahlin suburbs dominate a list of Canberra’s fastest-growing communities.

Casey has topped the Housing Industry Association’s Population and Residential Building Hotspots 2017 report, released this week.

The northern Gungahlin suburb’s population grew by 14.8 per cent in the 2015-2016 financial year, with approved residential building valuing $30.2 million.

Crace had a similar level of population growth at 14.1 per cent, plus $24 million worth of residential building work approved.

Franklin rounded out the top three with a 7.8 per cent population jump and residential construction approvals valuing $46.1 million.

The ACT is home to nine of the markets listed as “hotspots” in this year’s report.

To qualify, suburbs had to have recorded a population increase of more than 1.4 per cent in the 2015-2016 year and at least $150 million worth of residential building approved during that period.

Two of Canberra’s top three, Casey and Franklin, are home to new suburb records.Casey’s residential sales record was smashed by $170,000 with the sale of 12 Bev Lawson Street for $1.3 million earlier this month.

A house at 32 Marie Pitt Street sold for $1,170,000, breaking Franklin’s record in May.

A mix of established and new suburbs rounded out the nine Canberra hotspots: Phillip, Harrison, Ngunnawal, Griffith, Braddon and Greenway.

Greenway had the greatest value of residential building work approved at $73.6 million.

The mix of ACT “hotspots” includes newer communities with continued housing construction, plus more established areas undergoing renewed development.

Last year’s fastest-growing region in the territory – ‘ACT south-west’, or the Molonglo Valley – did not make the list this year, despite topping the nation’s hotspots five years in a row. ‘Gungahlin-west’, including Moncrieff, also dropped off the list this year, while Braddon and Greenway were new additions.

 

Date: May 30, 2017

Source: Allhomes.com.au