In a year when price declines became normality, these five Smart Property Investment FAST 50 suburbs bucked the national trend to report incredible price growth relative to economic conditions.
The report, which launched in May, combines 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 which aims to provide unparalleled insight into the Australian suburbs set for future growth.
While the report is loaded with insights into some of the most promising Australian suburbs for investors, in this series SPI breaks the FAST 50 report down based on each utilised data point.
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 and which regions have experienced consistent growth.
Today, we explore the suburbs which defied last year’s market downswing the most.
Leppington (NSW) 60.2 per cent:https://form.jotform.com/231476901641859?nojump&isIframeEmbed=1
Make no mistake about it, Leppington home prices are growing almost as quickly as its house prices. In a year dogged by a market downturn, values in this south-west Sydney community shot up 60.2 per cent. Several industrial estates and the Western Sydney Airport mean waning growth is unlikely to be on the horizon.
One Mile (QLD) 30.9 per cent:
Within the city of Ipswich lies One Mile, where prices defied the downturn last year by rising nearly 31 per cent. The region’s incredible price growth is matched only by the strength of its economy, underpinned by a proposed $1.7 billion fast rail link, the $12 billion Springfield community and the $1.5 billion Springfield rail link amongst others.
Redbank Plains (QLD) 29.1 per cent:
Another Ipswich suburb to feature in our list, Redbank Plains benefits from the aforementioned economy-bolstering projects as well as several transport links, including train stations and motorways, and numerous schools, all of which add to its convenient, family-friendly vibe.
Morayfield (QLD) 26.9 per cent:
We continue our adventure through the Sunshine State, only this time heading north of Brisbane into the Moreton Bay region. A key feature of this suburb is its natural beauty, but trees aren’t the only thing springing up around the property. New developments, both commercial and residential, have begun sprouting recently with more expected to come as Brisbane edges closer to the Olympics and Morayfield’s proximity to the capital becomes more desirable.
Avenell Heights (QLD) 26.8 per cent:
Bundaberg, famous for its rum. Avenell Heights, infamous for its market defiance. Over the last 12 months, when the wider nation was gripped tightly by declining prices, values in this picturesque neighbourhood have shot up. Formerly an agricultural community, residential development in Avenell Heights began in the 1950s and hasn’t looked back since.