Canberra is said to be home to Australia’s fastest growing suburbs, followed by inner Melbourne and outer Perth.
According to a 2014 Housing Industry Association survey, the Canberra suburbs of Crace, Bonner and Casey have recorded the fastest growing populations in the country and some of the highest value building approvals. Though the population in the three suburbs has also multiplied by over 40 per cent in the last year, inner Melbourne and outer Perth are not far back in the list having actually bettered in terms of spending on new housing developments.
According to a property economic consultancy, Deep End Services, more than half of the 36,000 apartments planned around the country by foreign developers, most of them Asian, will be built in Melbourne.
Overall new dwelling commencements in Australia rose to 162,000 during 2012-13, an increase of 11.7 per cent compared to the preceding year.