QLD, SA and WA offer the potential for capital growth

• Queensland, South Australia, and Western Australia offer strong capital growth potential
• Queensland leads with 18 suburbs in the top 50 list
• Western Australia and South Australia also heavily represented with 12 and 10 suburbs

Queensland tops the list of Australian suburbs that have the potential to deliver strong capital growth in 2024 according to a new report.

Smart Property Investment’s FAST 50 has compiled a list of 50 suburbs from around Australia that will see good capital growth, with Queensland, South Australia and Western Australia all heavily represented.

Queensland leads the pack

Queensland dominates the list, with an impressive 18 suburbs in the top 50.

The top Queensland locations for potential capital growth included Avenell Heights, Beaudesert, Bellbird Park and Forest Lake, among others that stand out for their affordability, proximity to major centres and planned infrastructure projects. Young professionals, families, and investors are attracted by the appealing blend of convenience, lifestyle amenities, and future growth potential according to the report.

Western Australia follows closely with 12 suburbs making the top 50 locations. Falcon, Forrestfield, and Rockingham are some of the suburbs that are very affordable and still offer good lifestyle options. Proximity to beaches, parklands and transport links has increased the appeal of these areas, offering homebuyers a balanced lifestyle within easy reach of Perth’s city centre.

South Australia was also heavily represented with 10 suburbs on the list, including Aldinga Beach, Modbury, and Reynella. These suburbs are known for their strong community spirit, a range of housing options, and convenient access to schools, shops, and recreational facilities. As the state experiences increased investment and development, these areas are poised to benefit from the growing interest.

New South Wales had four suburbs in the top 50, including Armidale, Hamilton, Leppington, and Oran Park. These suburbs appeal to buyers seeking a blend of natural surroundings and urban conveniences. With a focus on community living and planned developments, they offer residents an enticing lifestyle and the potential for long-term value appreciation.

Victoria and Tasmania only had two and one suburbs, respectively. Churchill and Mickleham in Victoria showcase a mix of suburban living and accessibility to metropolitan areas. While, Rokeby in Tasmania, although the only entry from the state, offers homebuyers a peaceful environment with a touch of rural charm.

The list of suburbs that made up the top 50, were handpicked by a panel of 14 industry experts, who focused on identifying suburbs with the most potential for capital growth in the next 12 months.

Top 50 suburbs poised for capital growth

Options for all types of buyers

Managing Editor of Financial Services and Real Estate at Momentum Media Phillip Tarrant said there’s a broad range of suburbs that made the list that will appeal to all types of buyers.

“All these suburbs offer sound investment appeal at different price points,” said Tarrant.

“This ensures no specific bias to one suburb over another and reflects the diversity of ‘investable’ suburb locations to suit the strategy needs and outcomes for all investors.”

He said experts who are on the ground analysing and buying property every day, usually offer the best insights into locations where demand is strong.

“The best insights are real time, generated from boots-on-the ground analysis and information sourced directly from agents and other connected professionals in any given area of assessment.

“This is called ‘ground truth’.”

Now it’s the time to buy

CEO of Pure Property Investment, Paul Glossop, said the last few years have been a rollercoaster in the property market but there is still value in certain locations.

“The last three years in the Australian property market have been monumental to say the least,” said Glossop.

“With a combination of a global pandemic and record capital growth coupled with record reductions in value now culminating in record rental growth and unsurpassed international migration, this report takes into consideration all these facets and more.”

“All too often I hear of investors that are waiting for the best time to invest, or the perfect opportunity.

“Here’s the home truth – it’s always a good time to invest if you’re prepared, finance-ready, have up-to-date insights and the best team around you.”