Best Suburbs for Investment Property to Watch in 2024 

As we gear up for an exciting year ahead, Liviti is thrilled to share our insights on the top suburbs that are set to shine in 2024 for property investment. 

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 suburbs are best for investment properties?

Best suburbs for investment property NSW

Best suburbs for investment property Sydney

Manly, NSW 2095

HouseUnit
Median Price$4,241,757$1,711,121
Median Rent$1,907$1245
Rental Yield2.34%3.78%

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 investors. The demand for coastal living paired with urban convenience is sure to drive property values upward.

Parramatta, NSW 2150

HouseUnit
Median Price$1,277,035 $590,213
Median Rent$857$639
Rental Yield3.49% 5.63%

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

Newcastle, NSW 2300

Best suburbs for investment property - Newcastle, NSW
Best Suburbs for Investment Property to Watch in 2024  9
HouseUnit
Median Price$1,330,565$854,536
Median Rent$783$615
Rental Yield3.06%3.74%

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. Join the wave of renewal and prosperity by considering Newcastle for your next property venture.

Wollongong NSW 2500

Best suburbs for investment property - Wollongong, NSW
Best Suburbs for Investment Property to Watch in 2024  10
HouseUnit
Median Price$1,203,636$669,411
Median Rent$689$578
Rental Yield2.98%4.49%

Nestled along the picturesque coastline, Wollongong is not just a beachside haven but a thriving investment opportunity. 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

HouseUnit
Median Price$2,105,331$851,943
Median Rent$1,608$899
Rental Yield3.97%5.49%

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 for investment property Brisbane

Fortitude Valley, QLD 4006

Best suburbs for investment property - Fortitude Valley, QLD
Best Suburbs for Investment Property to Watch in 2024  11
HouseUnit
Median Price$2,259,767$499,896
Median Rent$894$660
Rental Yield2.06%6.87%

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 for investment property in 2024.

South Brisbane, QLD 4101

HouseUnit
Median Price$1,490,164$595,824
Median Rent$814$749
Rental Yield2.84%6.53%

The cultural hub of Brisbane, South Brisbane, boasts diverse amenities and strategic locations. With a surge in developments, it offers a compelling opportunity for property investors.

Best suburbs for investment property for regional QLD

Best suburbs for investment property - Maroochydore, QLD
Best Suburbs for Investment Property to Watch in 2024  12

Maroochydore, QLD 4558

HouseUnit
Median Price$1,096,974$701,063
Median Rent$748$645
Rental Yield3.55%4.78%

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 investment potential. Don’t miss out on the Sunshine State’s bright prospects.

Southport, QLD 4215

HouseUnit
Median Price$1,009,366$851,943
Median Rent$784$899
Rental Yield4.04%5.58%

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

 HouseUnit
Median Price$623,371$398,937
Median Rent$509$379
Rental Yield4%5%

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 VIC 

Best suburbs for investment property Melbourne 

Best suburbs for investment property - Carlton, VIC
Best Suburbs for Investment Property to Watch in 2024  13

Carlton VIC 3053

 HouseUnit
Median Price$1,394,549$429,446
Median Rent$703$505
Rental Yield2.62%6.11%

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 one of the best suburbs for investment property in Australia.

South Yarra VIC 3141

 HouseUnit
Median Price$1,844,454$506,966
Median Rent$1,112$588
Rental Yield3.14%6.03%

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

 HouseUnit
Median Price$1,378,605$551,386
Median Rent$797$600
Rental Yield3.01%5.66%

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 

Best suburbs for investment property - Ballarat VIC
Best Suburbs for Investment Property to Watch in 2024  14

Ballarat VIC 3350

 HouseUnit
Median Price$629,035$429,159
Median Rent$430$357
Rental Yield3.55%4.33%

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

 HouseUnit
Median Price$1,030,275$633,437
Median Rent$506$480
Rental Yield2.56%3.94%

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

 HouseUnit
Median Price$595,137$446,208
Median Rent$506$480
Rental Yield4.42%5.59%

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

Best suburbs for investment property - Subiaco, WA
Best Suburbs for Investment Property to Watch in 2024  15

Subiaco WA 6008

 HouseUnit
Median Price$1,292,513$531,845
Median Rent$917$593
Rental Yield3.69%5.79%

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

 HouseUnit
Median Price$1,206,862$396,701
Median Rent$873$539
Rental Yield3.76%7.07%

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

 HouseUnit
Median Price$1,029,373$408,385
Median Rent$774$610
Rental Yield3.91%7.77%

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

Best suburbs for investment property - Bunbury, WA
Best Suburbs for Investment Property to Watch in 2024  16
 HouseUnit
Median Price$509,392$337,740
Median Rent$516$490
Rental Yield5.27%7.55%

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

 HouseUnit
Median Price$438,873$251,601
Median Rent$408$296
Rental Yield4.83%6.12%

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

 HouseUnit
Median Price$616,044$398,843
Median Rent$491$372
Rental Yield4.14%4.86%

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.

There you have it!

Above is our carefully curated list of top suburbs to keep a keen eye on 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! 

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