What’s in a name? Happy Valley stuns in Fast 50

The report and ranking drew on the insights of a 12-strong investment expert panel and recent housing performance drawn from open-source data, which aims to give unparalleled insights into the Australian suburbs that are set for future growth.

But it’s not only the element of growth that makes for a strong suburb. Happy Valley is located just 20 kilometres south of the South Australian capital of Adelaide, with all the amenities one would expect from a location along a city’s growth corridor while still retaining the hallmarks of its rural roots.

Several suburbs back from the renowned South Australian coastline, Happy Valley is most well known by locals for the Happy Valley Reservoir, which not only supplies fresh water to over half a million residents, but is also home to numerous walking and cycling trails, picnic areas, and fishing and kayaking.

Not only that, the nature of the enclosed catchments means the area is home to a multitude of kangaroos, echidnas and koalas, upping the appeal to families and nature lovers.

When initially built between 1892 and 1897, the Happy Valley Reservoir was originally 15 kilometres away from the city of Adelaide, but as populations have grown and suburban creep has occurred, the reservoir has found many residents flocking to the surrounding areas.

It’s easy to see why more that 11,400 people call this suburb home, with the oddly shaped suburb providing easy access onto the Southern Expressway and the A13, which lead directly into the Adelaide CBD.

Happy Valley is part of the South Australian City of Onkaparinga council, labelled as the state’s “largest metropolitan council and one of the fastest growing areas, with more than 170,000 residents”.

In acknowledgement of its growth status, the council has created a Community Plan 2030, which outlines the area’s big picture goals across the next six years.

And when the weekend rolls around, Happy Valley provides a number of holiday escapes just a stone’s throw from the suburb.

For those looking at country escapes, Happy Valley offers easy access to townships such as Stirling and Woodside, which are much lauded areas within the renowned Adelaide Hills district and a drawcard for tourism and lifestyle.

Happy Valley is also only one hour from Victor Harbor, which just last year was crowned South Australia’s Top Tourism Town.

Check out which other suburbs made the cut in the FAST 50 2025 report here.