The Hunter region has taken six spots in this year’s Housing Hotspots Report, according to the Housing Industry Association (HIA).
The Hunter region was well represented in the list, according to the HIA’s latest Population & Residential Building Hotspots. The report is aimed at finding employment growth areas targeted towards builders and tradies.
Thornton-Millers Forest remained the Hunter region’s No. 1 Hotspot this year with $96.3 million in building approvals and population growth of 7.7%.
Maryland-Fletcher-Minmi came in second with $57.1 million in building approvals and a population growth rate of 4.4%. Branxton- Greta- Polkolbin followed with $75.3 million in building approvals and population growth of 4.2%.
Newcastle-Cooks Hill recorded the largest value of new housing approvals of area in the Hunter region with $239.3 million in building approvals. This value placed it as one of only 17 locations in NSW that had in excess of $200 million in residential building work approved in 2017-2018, and the only location outside of Sydney.
“Newcastle-Cooks Hill momentum has continued recently. In the financial year to January 2019 $160.2 million of residential building approvals have been undertaken, an increase of 58% on the same period a year earlier. Based on 2018/19 performance to date the area is likely to remain a (hotspot) in next year's report,” said Craig Jennion, HIA executive director for Hunter.
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