I'm always on the lookout for quality S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) growth shares that are trading at attractive prices, particularly due to the recent market volatility.
ASX 200 shares that pay dividends that are growing at a fast pace and also have international growth plans could be worth investing in.
These are some of the ASX 200 growth shares I'm eyeing up at the moment:
REA Group Limited (ASX: REA)
The REA Group share price went down 4.4% today to just under $72, further improving its value for potential buyers.
This business is the owner of Australia's leading property site, realestate.com.au. Its share price has been suffering in recent months due to the rising interest rates and declining property markets of Sydney and Melbourne.
However, REA Group continues to report impressive double digit revenue growth every time it announces its numbers. This shows the market power of its brand and how important vendors value REA Group's online ad listings.
It's currently trading at 28x FY19's estimated earnings.
Bapcor Ltd (ASX: BAP)
Australia and New Zealand's leading auto parts business has seen its share price come off the boil along with every other growth share on the ASX, it dropped 3.3% today.
However, unlike some of its growth peers, Bapcor is very profitable and is growing its profit margins with every six months that goes by. Finding businesses with improving economies of scale are the ones worth owning for the long-term.
Management has a 5-year plan for continued store roll-outs of its Burson and Autobarn chains, which is useful when combined with the impressive same store sales growth. I'm quite excited by the opening of Bursons in Asia.
It's currently trading at 20x FY18's underlying earnings.
Challenger Ltd (ASX: CGF)
The country's leading annuity business saw its share price fall 1.5% today.
Rising interest rates have damaged investor sentiment about Challenger's valuation and its balance sheet. But, I think Challenger now looks very attractive for a long-term buy considering its target audience of retirees is expected to grow by 40% over the next decade, combined with supportive government policies.
A bonus is its growing partnership with a major Japanese financial business called MS Primary.
If Challenger can grow its underlying earnings at around 10% a year for the next decade then it could be cheap trading at under 14x FY19's estimated earnings.
Foolish takeaway
All three of these shares have been excellent investments for long-term shareholders and the current price falls could prove to be useful opportunities to buy in for new shareholders or top up for existing investors.
At the current prices I'd really like to buy more Challenger shares, I'd prefer REA Group to fall a bit further before buying.
