In the sea of gold that is Smart Property Investment’s FAST 50 report, these five suburbs stick out as the most enticing for investors on a tight budget.
The report, which launched in May, merged the insights of a 14-strong investment expert panel and recent housing performance drawn from open source data to form a report and ranking which aims to provide unparalleled insight into the Australian suburbs set for future growth.
While the report is littered with insights into some of the highest potential Australian suburbs, in this series SPI will break the FAST 50 report down based on each utilised data point.
Today, we spend considerable time on Australia’s west coast as we explore the five most affordable suburbs from SPI’s FAST 50 report.
Armadale, WA, $305k:
One of many Perth suburbs included in the list, this quintessentially Australian community, which lies 25km south of the city’s central business district, has long been on the radar as one of the nation’s leading affordable suburbs.https://form.jotform.com/231476901641859?nojump&isIframeEmbed=1
At $305,000, Armadale’s median house price may seem like it’s the most attractive offering but a series of billion-dollar industrial infrastructure projects within its borders mean its affordability may not remain modest for much longer.
Camillo, WA, $330.5k:
Another Perth alumni featured in this list, Camillo is home to the cheapest dwelling sold within the Western Australian capital in 2023. Showcasing a relaxed, family-friendly environment with several quality parks, schools, and shopping centres, the suburb has been billed as an “ideal destination for families, first home buyers, and investors.”
Orelia, WA, $338.5k:
It’s a hat-trick of Perth suburbs! Only this time, we head to Orelia in the council zone of Kwinana in the city’s south. Just shy of $340,000, the region’s affordable house prices may hook investors and first home buyers, but its extensive transport systems, world-class facilities, and a forecasted population of 80,000 by 2050 will reel them in.https://www.youtube.com/embed/orAlzH9c2VU?controls=0
Maryborough, QLD, 340k:
Lying on the Mary River in Queensland’s Fraser Coast is Maryborough, one of the FAST 50 report’s “cheapies” and the first suburb to break Western Australia’s vice-like grip on this list.
Described by Margaret Lomas as a place to “enjoy run-off demand from nearby Hervey Bay,” the region has seamlessly transitioned from an industrial heartland into a tourist town brimming with all the hallmarks desired by holidaymakers.
With homes sitting in the range of $340,000, Ms Lomas added Maryborough is “suitable for those wanting low buy-in prices and higher yields.”
Mandurah, WA, 350k:
Western Australia returns, this time with pristine coastal town, Mandurah, which is the least affordable suburb in this list even though buyers in the region are rarely forced to part with more than $350,000 to land a roof over their head.
Having leveraged on the significant lifestyle shifts born from the COVID-19 pandemic, the region, dubbed the Little Venice of Western Australia, is filled with accommodations and amenities that can easily take in long-term residents and holidaymakers, both of which are plenty.
To find out which other suburbs made Smart Property Investment’s FAST 50 report, download it here.
To read more of SPI’s Fast 50 coverage, click here.
