Nearly a dozen Western Australian suburbs have been identified among the nation’s top 50 areas that are geared for capital growth in 2013.
Midland and South Hedland were cherry picked among the 11 WA suburbs that made it into the 2013 ‘Fast 50’ report, released by Smart Property Investment, recognised for good infrastructure and impending large amounts of financial investment.
The Fast 50 hotspots were selected based on a range of key metrics, including population growth, demand for housing, income levels, vacancy rates and previous capital growth.
Affordable pricing and proximity to infrastructure, such as the airport, Great Eastern Highway and the train line, made Midland a “strong investment selection”.
“An estimated $1 billion is to be injected into the local economy over the next 20 years, which combined with declining land stocks, will see property prices rise indefinitely,” Positive Real Estate chief executive Sam Saggers said.
Meanwhile South Hedland had a high long-term trend for increasing capital growth and positive cashflow, Fast 50 contributor and property mentor Helen Collier-Kogtevs said.
“With great past performance and great projected performance, low vacancy rates, high per capita income levels, a shortage of and high demand for all types of housing, as well as Rio Tinto’s $20 billion spend on new iron ore mines, this is a significant place to watch,” she said.
Other WA suburbs to make the top 50 list are:
- Aubin Grove
- Dampier
- Falcon
- Hamilton Hill
- Karratha
- Kwinana
- Newman
- Rockingham
- Wungong
Outside of WA, Queensland accounted for 17 suburbs and New South Wales had 11. Six suburbs made the list for Victoria, South Australia and the Northern Territory had two apiece and Tasmania had one entrant.
