As we are already in the last quarter of 2024, we are thrilled to share our insights on the best suburbs to invest in Australia 2024, spotlighting stunning locations with the best capital growth prospects and best investment property opportunities in Australia.
Buckle up because these suburbs are not just promising; they’re the hidden gems waiting to elevate your property portfolio to new heights.
So which are the best places to buy investment property Australia 2024? Discover the best suburbs for capital growth and best places to buy investment property in Australia as we explore each region.
Best suburbs for investment property NSW
Best Suburbs to Invest in NSW 2024 – Sydney
Manly, NSW 2095
| House | Unit | |
| Median Price | $4,410,000 | $1,772,500 |
| Median Rent | $1,825 | $900 |
| Rental Yield | 2.2% | 3.0% |
| Growth (Past 12 Months) | 0.2% | 9.4% |
Manly, known for its stunning beaches and laid-back lifestyle, is more than just a haven for surfers. With its proximity to Sydney’s CBD, excellent transport links, and a growing community, Manly is emerging as a hotspot for savvy property investors and considered as one of the best investment suburbs in NSW for property investment. The demand for coastal living paired with urban convenience is sure to drive property values upward.
Situated close to Sydney’s CBD, Manly boasts not only picturesque beaches but also convenient transport links, making it a prime suburb for the Sydney property market. Investors eyeing the Australian housing market, recognize Manly’s blend of coastal living and urban accessibility as a lucrative opportunity for capital growth.
According to Corelogic’s latest report on the housing market Australia in April 2024, both houses and units in capital cities nationwide have experienced significant growth, with houses seeing a rise of 10.7% and units by 6.9%.
This makes Manly not just one of the best suburbs to invest in Sydney 2024, Australia but also a prime location for those seeking the best investment property locations in Australia in 2024. It’s a prime location for those seeking the best Sydney suburbs for investment property in Australia in 2024. According to Domain’s prediction, Australian national housing prices will rise from 5% to 7% percent in 2024. And based on their Sydney property market forecast, the median house price in Sydney is expected to rise by 7% to 9% overall. Rising house prices dovetail with a surge in interest for new suburbs in Sydney as well.
Parramatta, NSW 2150
| House | Unit | |
| Median Price | $1,600,000 | $625,000 |
| Median Rent | $680 | $620 |
| Rental Yield | 2.2% | 5.5% |
| Growth (Past 12 Months) | 8.7% | 0.6% |
Parramatta has been silently transforming into a bustling economic hub, and 2024 is set to amplify its potential. The government’s investment in infrastructure, coupled with a diverse range of amenities and cultural attractions, makes Parramatta a prime location for property investment. Get ready to ride the wave of growth in this western gem.
Best suburbs for investment property Regional NSW
Best Suburbs In Newcastle, NSW 2300
| House | Unit | |
| Median Price | $1,862,500 | $1,800,000 |
| Median Rent | $700 | $650 |
| Rental Yield | 2.4% | 4.1% |
| Growth (Past 12 Months) | -30.1% | 26.3% |
Newcastle, with its stunning beaches and a thriving local economy, is on the cusp of a property boom. The city’s revitalisation efforts, coupled with its strategic location, make it an attractive prospect for investors. There are some suburbs that are in high growth in terms of property investments. Cooks Hill, Bar Beach, Merewether, Hamilton, and The Junction are considered as best Newcastle suburbs for property investment in 2024.
Newcastle stands out as one of the best areas to buy investment property, promising to be one of the best capital growth suburbs in Australia. The best suburbs Newcastle NSW offer a perfect blend of lifestyle and investment potential. Whether you’re seeking coastal charm or urban convenience, Newcastle best suburbs present lucrative opportunities for property investors.
While Sydney continues to dominate headlines with record-breaking Australia property prices and ongoing house price news & updates, investors are increasingly drawn to Newcastle’s potential for high capital growth, making this the best place to invest in Australia in 2024 and capitalizing on its revitalization and strategic location.
Join the wave of renewal and prosperity by considering Newcastle for your next property venture.
Wollongong NSW 2500
| House | Unit | |
| Median Price | $1,092,500 | $708,250 |
| Median Rent | $665 | $550 |
| Rental Yield | 2.9% | 4.2% |
| Growth (Past 12 Months) | – 11.7% | – 0.2% |
Nestled along the picturesque coastline, Wollongong is not just a beachside haven but a thriving investment opportunity. Wollongong is very among among property investors as one of the best place to buy investment property in Australia. With a perfect blend of coastal charm and economic resurgence, Wollongong has become a hotspot for savvy investors. The city’s revitalisation efforts, coupled with its strategic location, make it an attractive prospect for those seeking both lifestyle and property growth.
Byron Bay, NSW 2481
| House | Unit | |
| Median Price | $3,350,000 | $1,182,500 |
| Median Rent | $1,200 | $850 |
| Rental Yield | 2.6% | 4.1% |
| Growth (Past 12 Months) | 36.6% | 0.7% |
Beyond its bohemian allure, Byron Bay is gaining attention for its regional living appeal. The unique charm and increased interest in lifestyle-focused regions position it as a top choice for property appreciation.
Best suburbs for investment property QLD
Best suburbs to Invest In Queensland 2024 – Brisbane
Fortitude Valley, QLD 4006
| House | Unit | |
| Median Price | – | $500,000 |
| Median Rent | $550 | $600 |
| Rental Yield | 1.4% | 6.4% |
| Growth (Past 12 Months) | – | 16.3% |
Fortitude Valley, with its vibrant nightlife and cultural scene, is undergoing a renaissance. The urban renewal projects and a surge in commercial developments are turning heads towards this dynamic suburb.
As the Valley transforms, so will the property landscape, presenting a compelling opportunity for investors seeking growth and making the Valley one of the best suburbs in Brisbane for property investment in 2024.
This transformation highlights Fortitude Valley as one of the good places to buy investment properties, offering a unique blend of cultural charm and economic potential. Investors looking for the best investment properties will find the Valley’s mix of residential and commercial real estate particularly appealing.
The ongoing developments ensure that property values are set to rise, making it an ideal time to invest. Additionally, the area’s popularity with both residents and businesses guarantees a steady demand for rental properties. For those aiming to capitalize on market trends, Fortitude Valley stands out as a prime location for property investment.
South Brisbane, QLD 4101
| House | Unit | |
| Median Price | $1,637,500 | $620,000 |
| Median Rent | $730 | $710 |
| Rental Yield | 2.4% | 6.0% |
| Growth (Past 12 Months) | 13.2% | 14.8% |
As a cultural hub, South Brisbane is among the best places to invest in Australia 2024, offering a compelling mix of amenities and strategic location.
Best suburbs for investment property for regional QLD
Maroochydore, QLD 4558
| House | Unit | |
| Median Price | $1,085,000 | $745,000 |
| Median Rent | $750 | $630 |
| Rental Yield | 3.8% | 4.6% |
| Growth (Past 12 Months) | 13% | 8.8% |
Maroochydore is not just a picturesque coastal town; it’s a rising star in the Sunshine Coast’s property market. With major infrastructure projects in the pipeline and a surge in lifestyle-focused developments, Maroochydore offers a perfect blend of relaxed living and considered one of the best place to invest in Australia. Don’t miss out on the Sunshine State’s bright prospects.
Southport, QLD 4215
| House | Unit | |
| Median Price | $1,050,000 | $640,444 |
| Median Rent | $770 | $650 |
| Rental Yield | 4.2% | 13.4% |
| Growth (Past 12 Months) | 16% | 5.4% |
Southport, the central business district of the Gold Coast, is evolving into a key player in the property market. With ongoing development projects, improved connectivity, and a diverse range of amenities, Southport is poised for substantial growth. Invest in the gateway to the Gold Coast and unlock a wealth of opportunities.
Toowoomba, QLD 4350
| House | Unit | |
| Median Price | $595,000 | $377,500 |
| Median Rent | $480 | $327 |
| Rental Yield | 4.5% | 5.6% |
| Growth (Past 12 Months) | 2.6% | 1.3% |
Known for its garden city charm, Toowoomba presents a stable and attractive investment option in regional Queensland. Economic growth and development projects contribute to its investment appeal.
Best suburbs for investment property Victoria (VIC)
Best suburbs for investment property Melbourne
Carlton VIC 3053
| House | Unit | |
| Median Price | $1,410,000 | $409,000 |
| Median Rent | $750 | $550 |
| Rental Yield | 2.9% | 7.4% |
| Growth (Past 12 Months) | – 0.9% | 6.1% |
A vibrant suburb with a rich cultural scene, Carlton attracts investors with its historical architecture and proximity to Melbourne’s CBD. The unique blend of lifestyle and accessibility enhances its investment potential making Carlton as one of the best places to buy investment property in Australia, blending rich cultures and bringing forth accessibility making it one of the best investment property locations in Australia. Carlton’s allure extends further as it secured its place among the top 20 growth suburbs in Melbourne 2023, reflecting its ongoing appeal and promising future for investors.
South Yarra VIC 3141
| House | Unit | |
| Median Price | $2,150,000 | $540,000 |
| Median Rent | $950 | $575 |
| Rental Yield | 2.8% | 5.8% |
| Growth (Past 12 Months) | – 4.0% | – 7.7% |
Known for its upscale living, South Yarra offers a sophisticated investment option. With premier amenities and a sought-after lifestyle, it remains a top choice for discerning investors.
Richmond VIC 3121
| House | Unit | |
| Median Price | $1,380,000 | $582,000 |
| Median Rent | $820 | $570 |
| Rental Yield | 3.3% | 5.7% |
| Growth (Past 12 Months) | – 2.8% | 2.1% |
A trendy and diverse suburb, Richmond is gaining popularity among investors. Its proximity to the city, cultural attractions, and dynamic atmosphere contribute to its investment appeal.
Best suburbs for investment property Regional VIC
Ballarat VIC 3350
| House | Unit | |
| Median Price | $562,500 | $285,000 |
| Median Rent | $410 | $360 |
| Rental Yield | 3.6% | 4.4% |
| Growth (Past 12 Months) | – 8.0% | – 27.8% |
Combining historic charm with modern amenities, Ballarat is emerging as a regional investment hotspot. A growing community and potential for development make it an appealing choice.
Geelong VIC 3220
| House | Unit | |
| Median Price | $935,000 | $620,000 |
| Median Rent | $532 | $500 |
| Rental Yield | 3.2% | 4.3% |
| Growth (Past 12 Months) | – 1.6% | – 13.3% |
Geelong presents a promising investment opportunity in regional Victoria with its waterfront charm and economic growth. Ongoing development projects contribute to its upward trajectory.
Bendigo VIC 3550
| House | Unit | |
| Median Price | $605,000 | $470,000 |
| Median Rent | $455 | $390 |
| Rental Yield | 4.1% | 4.4% |
| Growth (Past 12 Months) | 13.2% | 0.5% |
Known for its cultural richness and heritage, Bendigo is a regional gem attracting investors seeking a blend of history and growth. Economic stability and development projects enhance its investment appeal.
Best suburbs for investment property WA
Best suburbs for investment property Perth
Subiaco WA 6008
| House | Unit | |
| Median Price | $1,800,000 | $598,500 |
| Median Rent | $900 | $620 |
| Rental Yield | 3.4% | 5.9% |
| Growth (Past 12 Months) | 19.9% | 12.9% |
Subiaco is a top choice as one of the best property investment places in Australia, showcasing both heritage and modernity. Subiaco is a sought-after investment destination, a well-established suburb with a mix of heritage and modernity. Premier amenities and strategic positioning contribute to its investment potential.
Mount Lawley WA 6050
| House | Unit | |
| Median Price | $1,588,000 | $448,750 |
| Median Rent | $800 | $525 |
| Rental Yield | 3.4% | 6.5% |
| Growth (Past 12 Months) | 32.3% | 15.1% |
Known for its cultural diversity and vibrant atmosphere, Mount Lawley offers an eclectic investment option. Proximity to the city and a thriving community make it an attractive choice.
Fremantle WA 6160
| House | Unit | |
| Median Price | $1,029,373 | $408,385 |
| Median Rent | $774 | $610 |
| Rental Yield | 3.91% | 7.77% |
| Growth (Past 12 Months) | 15.9% | 9.4% |
Combining historic charm with a bustling arts scene, Fremantle attracts investors with its unique character. Strategic location and ongoing development projects enhance its investment appeal.
Best suburbs for investment property regional WA
Bunbury WA 6230
| House | Unit | |
| Median Price | $833,500 | $450,000 |
| Median Rent | $620 | $550 |
| Rental Yield | 4.4% | 6.7% |
| Growth (Past 12 Months) | 26.3% | 2.9% |
Positioned as a regional hub, Bunbury offers a perfect blend of coastal living and economic stability. Ongoing development projects and a growing community contribute to its investment potential.
Geraldton WA 6530
| House | Unit | |
| Median Price | $394,000 | $274,500 |
| Median Rent | $457 | $280 |
| Rental Yield | 6.3% | 8.2% |
| Growth (Past 12 Months) | 21.2% | 16.8% |
With its coastal beauty and economic opportunities, Geraldton is emerging as a regional investment hotspot. Development projects and lifestyle appeal enhance its attractiveness to investors.
Albany WA 6330
| House | Unit | |
| Median Price | $750,000 | $398,843 |
| Median Rent | $500 | $340 |
| Rental Yield | 3.8% | 6.3% |
| Growth (Past 12 Months) | 8.5% | 4.8% |
Known for its natural beauty and historical significance, Albany offers a unique investment option in regional Western Australia. Ongoing development and a thriving local economy contribute to its investment appeal.
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There you have it!
Above is our carefully curated list of the best suburbs to invest in property in Australia in 2024. Remember, successful property investment is about more than just location; it’s about understanding the unique blend of lifestyle, infrastructure, and economic factors that drive growth.
As always, at Liviti, we’re here to guide you on your property investment journey with honesty, smarts, and a clear strategy that is created just for you.
Here’s to a prosperous 2024 filled with visionary investments and stress-free wealth-building through the property! Book a free discovery session to start your journey towards financial freedom.
FAQ
1. What are the best investment suburbs in Australia for 2024 ?
For 2024, Manly, Parramatta, Newcastle, and Wollongong in NSW, along with Fortitude Valley and South Brisbane in QLD, are highlighted as the best investment suburbs in Australia. Each offers unique growth potential and lifestyle amenities that appeal to a wide range of property investors whether they are beginner or experienced.
2. Which suburb is the best for investment property in Sydney ?
Manly stands out as the best suburb for investment property in Sydney due to its stunning beaches, lifestyle, and proximity to the CBD. It combines coastal living with urban convenience, making it a top choice for investors.
3. How do I identify the best suburbs to invest in for capital growth ?
Identifying the best suburbs for capital growth involves researching market trends, infrastructure developments, and demographic shifts. Suburbs like Parramatta and Newcastle are noteworthy for their transforming economies and growth potential.
4. What makes the best places to buy investment property in Australia in 2024 and beyond ?
The best places to buy investment property in Australia feature strong rental demand, potential for price appreciation, and lifestyle amenities. Regions undergoing significant development, like Maroochydore and Southport, QLD, are prime examples for 2024 and beyond.
5. Why are Western Sydney suburbs considered promising for investment properties ?
Western Sydney suburbs are promising due to their ongoing infrastructure projects, growing economies, and affordable property options. Parramatta, as a central hub, exemplifies the investment potential in this region with its economic and cultural development.
6. How can investors maximise returns in high rental yield suburbs in NSW ?
To maximise returns in high rental yield suburbs in NSW, investors should focus on properties with growth potential, consider emerging suburbs like Newcastle, and stay informed about market dynamics to identify high-yield opportunities.
7. What criteria define the best areas to invest in property in Sydney and NSW ?
The best areas to invest in property in Sydney and NSW offer a combination of lifestyle appeal, rental yield, and capital growth potential. Areas like Manly and Wollongong excel due to their desirable living conditions and investment opportunities.
8. Where to invest in property 2024 ?
For property investment in 2024, consider suburbs with strong growth potential and lifestyle appeal. Areas like Manly and Parramatta in NSW, and Fortitude Valley and South Brisbane in QLD, are standout choices due to their vibrant communities, ongoing infrastructure developments, and rising property values. According to CoreLogic, these areas have shown significant growth, with Sydney suburbs like Manly experiencing a 10.7% increase in house prices in 2023, making them prime targets for investment.
9. Where to buy investment property in Australia 2024 ?
For 2024, the best places to buy investment property in Australia include Manly and Parramatta in NSW, Fortitude Valley in QLD, and Carlton in VIC. These suburbs offer strong capital growth prospects, and high rental yields, and are supported by ongoing infrastructure developments, making them prime choices for savvy investors.
10. What are the best suburbs to invest in Australia 2024?
The best suburbs to invest in 2024 Australia include Manly and Parramatta in NSW, Newcastle and Wollongong in regional NSW, and Fortitude Valley and South Brisbane in QLD. These areas are experiencing strong capital growth, with Manly’s median house price rising by 10.7% and Fortitude Valley offering rental yields up to 6.87%.
