Nationally, a ‘hotspot’ is defined as a local area where population growth exceeds the national average and where the value of residential building work approved is in excess of $100 million.
HIA economist Diwa Hopkins said Pimpama’s appearance on the list is reflective of a strengthening Gold Coast market.
“The Pimpama region on the Gold Coast is strong addition to our report; this region has replaced the more regional mining towns which have featured on behalf of Queensland in previous years. It’s encouraging to see the Gold Coast experiencing a positive growth period following some tough conditions there,” she said.
“New home building in Queensland as a state has broadly recovered at historical highs – Queensland’s south east is benefiting from this, which is reflected through the rankings of Pimpama in the report,” Ms. Hopkins said. For the complete article from theurbandeveloper click here.