The recently launched Fast 50 report, a comprehensive study of Australian suburbs set for future growth, has revealed several regions that defied the national property market downswing. The report, which combines the expertise of a 14-strong investment expert panel and recent housing performance data, offers valuable insights into promising Australian suburbs for investors.
Among the suburbs that stood out for their resilience amid the market downturn, five have shown exceptional growth.
Leppington, a community in south-west Sydney, topped the list with a staggering 60.2% rise in home prices. Despite the market downturn, Leppington’s values shot up, driven by several industrial estates and the Western Sydney Airport. The robust growth in this region shows no signs of slowing down.
One Mile, located within the city of Ipswich, saw prices rise by nearly 31% last year, defying the downturn. The region’s impressive price growth is matched 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, among others.
Redbank Plains, another Ipswich suburb, also made the list. Benefiting from the aforementioned economy-boosting projects, Redbank Plains offers several transport links, including train stations and motorways, and numerous schools, adding to its convenient, family-friendly vibe. The suburb saw a 29.1% rise in prices last year.
Heading north of Brisbane into the Moreton Bay region, Morayfield experienced a 26.9% increase in property prices. The suburb is known for its natural beauty, but it’s not just trees springing up in the area. New commercial and residential developments 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.
Finally, Avenell Heights in Bundaberg, known for its rum, has become 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 shot up. Formerly an agricultural community, residential development in Avenell Heights began in the 1950s and hasn’t looked back since, recording a 26.8% increase in property prices.
These suburbs, with their impressive performance amid a national downswing, offer promising opportunities for property investors looking for resilient and high-growth areas.