With interest rates unlikely to improve until late next year at the earliest, if I had $5,000 sitting in a bank account I would consider investing it in some of Australia's top growth shares.
After all, the potential returns on offer from these shares are vastly greater than those of savings accounts or term deposits.
The three top growth shares listed below are the ones I would consider buying this week:
Bellamy's Australia Ltd (ASX: BAL)
This organic infant formula company's shares have come under pressure over the last couple of months after rival A2 Milk Company Ltd (ASX: A2M) provided full-year guidance that was lower than the market expected. While I expect Bellamy's and a2 Milk Company's shares could remain volatile for the next few months, I think in the long-term they will both head notably higher thanks to the insatiable demand for their products in the China market. So with Bellamy's shares trading 24% lower than their 52-week high, I think now could be an opportune time to snap them up with a long-term view.
NEXTDC Ltd (ASX: NXT)
The cloud computing market has been growing incredibly strongly and shows little signs of slowing. I believe this bodes well for data centre operators such as NEXTDC which are likely to see demand for their services rise meaningfully over the next few years. Considering the significant capacity that NEXTDC possesses within its world class data centres that are positioned in strategically important locations across Australia, it is my first preference in the industry. However, its shares have a significant amount of future growth built into them now. This means that there is a risk that failing to deliver on the market's lofty expectations could send its share price notably lower.
Webjet Limited (ASX: WEB)
Recent data from the Australian Bureau of Statistics not only shows that tourism into Australia continues to rise at a solid rate, but tourism out of Australia has been growing at an equally solid rate. And with more and more travellers booking their tickets online, I think this puts Webjet in a position to continue its strong form for the foreseeable future. Earlier this year Webjet delivered an impressive 45% increase in half-year net profit after tax before acquisition amortisation from continuing operations. This was driven by above-average bookings growth across its business.
