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The residential real estate market in Western Australia has been highlighted by new research into development projects and population figures.
Performed by Jeld-Wen and the Housing Industry Association (HIA), the Population and Residential Building Hotspots 2012 report looks to identify suburbs and localities across the nation that are performing above the national average.
In particular, the research looks at areas experiencing population growth above the rate of 1.4 per cent as well as residential developments totalling in excess of $100 million.
With all the resource expenditure and asset development taking place in WA, it is little wonder that the state has managed to claim five 'hotspots' in the top 20.
Serpentine-Jarrahdale displayed a population growth rate of 6.9 per cent per annum - the highest in the state - while the amount of residential work approved was over $108,000.
Conversely, Wanneroo's population rate was only 4.7 per cent but it had attracted over $235,000 in domestic development.
Chief economist at the HIA Dr Harley Dale commented that - while the results were promising - the peak body believed more could be done to support the new housing industry.
Dr Dale asserted: "There were ninety Hotspots around Australia in 2010-11, clearly demonstrating the potential for considerably higher levels of residential construction activity than is occurring."