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NSW, Victoria and WA are the st...

NSW, Victoria and WA are the strongest property markets

Three areas of the nation are outperforming all others at the moment, experts say.
Three areas of Australia are outperforming the rest of the nation at the moment, the latest report published this week by the Housing Industry Association (HIA) has reported.

The figures have shown that building in the areas of New South Wales, Victoria and Western Australia has allowed them to outshine areas where property prices have started to slow, while still growing.

Newly created suburbs in these areas have helped to raise housing activity, and it was the ACT area of New South Wales that was reported to have the three busiest places thanks to this new build boom.

Crace saw its population rise by some 58 per cent in 2012 to 2013, while the same period saw Bonner's population jump by 43.3 per cent, and Casey's by 40.6 per cent. 

In Victoria and Western Australia, there were also areas that saw high levels of population increase thanks to brand new suburbs. 

These included three Victorian suburbs and four Western Australian localities in the top ten alone. 

HIA senior economist Shane Garrett said that it was encouraging to see that Melbourne, the nation's second city, so high up on the list (fourth place). 

"This augers well for the continued revitalisation of the nation’s second largest city and demonstrates the opportunities for new dwelling construction in established areas," he said. 

Posted by Craig Francis

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