5 consistently growing FAST 50 suburbs

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 and the areas with the strongest price growth over the first quarter of 2023.

Today, in a NSW dominated list we reveal which FAST 50 suburbs recorded the highest growth over the 12 months to January.

Rokeby (Tas) 11.5 per cent:

For the first time in this series, we cross the Bass Strait into Tasmania and nestle in Rokeby, on the south-eastern fringe of Hobart. Back in the day, Rokeby was considered a separate town to the state capital before the pair were unified.

Low-density housing, proximity to Hobart International Airport and forecasted population growth in the state over the next decade mean future growth is about as guaranteed as the sun rising in the east and setting in the west.

Hamilton (NSW) 9 per cent:

Newcastle may be known for the Johns brothers and Silverchair, but Hamilton in the city’s heart is about as resilient as the Knights’ 1997 premiership winning side. Growing nearly 10 per cent in a year categorised by rising rates and cost of living is a remarkable feat for the previously unheralded suburb.

Leppington (NSW) 8.7 per cent:

It’s one of Australia’s fastest growing regions which benefits from a surging population that has resulted in houses, not crops, shooting up throughout the farmland which formerly dominated Leppington.

Lying in the south-west growth corridor of state capital, Sydney, Leppington’s growth isn’t over yet with the population of the suburb and surrounding regions expected to hit 120,000 by 2041. Key to this growth is the presence of several industrial estates, and the Western Sydney Airport, which ensures a steady stream of employment flows into the community.

Oran Park (NSW) 8.6 per cent:

Formerly a race track which hosted the V8 Supercars and Formula One, at the dawn of the 2010s Oran Park began transitioning out of the fast lane and into one of the nation’s fastest growing metropolises.

Kevin Brogan, national director, group risk and compliance at Herron Todd White, believes the region is one of the “few examples that show if a master plan is done right and a community lifestyle is created, the area will flourish and price increases will follow”.

Clayfield (Qld) 8.5 per cent:

Living up to its reputation as one of Queensland’s most prestigious markets, this pocket of state capital, Brisbane, is renowned for the 50 heritage listed properties which lie within its borders.

To find out which other suburbs made Smart Property Investment’s FAST 50 report, download it here.