There are some fantastic spots in Western Australia to build a custom home – so much so, that we have some of the busiest construction zones in the country. According to the Housing Industry Association (HIA), WA holds six of the top 20 residential construction hotspots in Australia, when taking into account building approvals and population growth.
The HIA/ACI Population and Residential Building Hotspots Report focuses on areas with population growth above the national rate of 1.6 per cent and residential construction approvals within excess of $100 million. The report also notes that NSW, Victoria and WA are all expected to have some areas of significant growth going forward.
The top of the list for the Western Australian statistical regions was the Forrestdale-Harrisdale-Piara Waters region, were of $220 million of approved residential building in 2013-14 was met with a population growth rate of 21.8 per cent.
Other areas where you may see a few more luxury homes popping up include Yanchep, Baldivis, Byford, Bertram-Wellard (West) and Ellenbrook. The lowest population expansion rate on the list was 8.2 per cent – significantly higher than the national average.
Yanchep and Baldivis had the most building approved out of the list, with over $300 million and $350 million worth respectively. These were the only two regions to break the $300 million mark.
According to the Real Estate Institute of Western Australia (REIWA), Ellenbrook and Baldivis excelled in other areas as well. The latter was the top selling suburb south of the river for the week ending 29 April, while Ellenbrook claimed that title north of the river for the same period.
With so much going on in the Perth and WA property markets, it’s important that when you’re designing your own home, you’re also considering the future growth potential of the suburb you’re moving into.