In a year where consumer confidence dipped under the weight of rising rates and cost-of-living pressures, these five suburbs managed to experience more sales than any other FAST 50 suburbs.
Smart Property Investment’s FAST 50 report, which launched in May, combined the collective expertise of a 14-strong investment expert panel and recent housing performance drawn from open-source data to form a report and ranking with aims to provide unparalleled insight into the Australian suburbs set for future growth.
So far, we’ve covered the five most affordable suburbs contained in the report, the highest yielding regions, the areas with the strongest price growth over the first quarter of 2023, which regions have experienced consistent growth, what areas offered the greatest resistance to last year’s downturn, and where landlords charge the highest rents.
Today, we’re spotlighting the FAST 50 regions which recorded more sales than any other.
Redbank Plains (QLD) 706 sales:
Residing within Ipswich, Queensland’s borders, this quiet, family-friendly suburb is a short commute to the bustling Ipswich CBD. Notably, Redbank Plains offers residents an ideal blend of urban convenience of city living with the lush greenery of regional localities. Enveloping the suburb is several significant parklands, including the famed White Rock Conservation area.
Armidale (NSW) 540 sales:
Moving slightly further down the Australian east coast, we arrive at the infamous university town, Armidale, where over 500 properties have changed ownership. For years, thousands of high-hoped young Australians have flocked to the country’s NSW town with bags packed full of big dreams and it seems this trend is no different today. At the last census, 8.8 per cent of the town’s population is aged between 20 and 24, compared to 6.1 per cent of NSW’s population.
Mount Gambier (SA) 518 sales:
Lying near the Victorian-South Australian border, Mount Gambier is one of the most popular towns for Australian internal migrations. The sinkhole capital of Australia has long been viewed as one of the most inviting regional towns across Australia with last year’s sales data suggesting this position hasn’t altered much.
Much like Armidale, Mount Gambier is also noted for its tertiary education options, with the University of South Australia parking a campus on the town’s northern fringe.
Morayfield (QLD) 513 sales:
In Queensland’s Moreton Bay region, 45 kilometres north of the Brisbane CBD, this formerly rural community has benefited from significant development over recent decades to bloom into a thriving residential and commercial hub. Much like Redbank Plains, Morayfield is famed for its natural beauty and picturesque landscape, which includes several parks, wetlands and bushland reserves.
Matthew Lewison, the chief executive of OpenCorp, said the region is a “priority development” with the region’s “northern corridor likely to benefit from population growth and limited land supply”.
Gosnells (WA) 477 sales:
Shifting across the other side of the country, we land in Gosnells, a small community on Perth’s south-eastern corner where the Australian dream is undeniably burning hot. Not only is the suburb quintessentially Australian, appearing as if it were straight from a movie or hit show, Gosnells provides residents with access to vast stores of parks, reserves and wetlands, to complement its relaxed family-lifestyle and convenient access to state capital.