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Property News

Victoria claims nine top performing residential property locations

April 17, 2012

Property punters looking at delving into residential real estate in Victoria have been giving some good news in the form of a new report from the Housing Industry Association (HIA) and construction specialists Jeld-Wen.

The joint report aims to identify the top 20 localities for investment based on two key performance measures - population growth and construction.

Results show that none of the top performers listed on these conditions are located in Victoria - with three localities in the top five.

Calling it one of the "strongest housing markets" in the country, HIA chief economist Harley Dale explained that the state still had the "potential for further out-performance".

Mr Dale asserted: "In 2010-11 and also through this financial year we have seen Victoria and the ACT dominate [the] new home building landscape".

The combination of steady population growth and increased residential property developments means that the locations included in the list - such as Whittlesea to the north of Melbourne and Cardinia to the east - are likely to attract long-term interest from first-homebuyers and investors alike.

Mr Dale also commented that these communities were the exception rather than the rule to Australian property markets, with conditions in other areas resulting in softer housing prices.

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