We’re well into 2024 and Brisbane’s property market continues to shine as a beacon of investment opportunity.
Driven by a robust economy, significant population growth, and a diverse range of suburbs catering to different preferences, the city is attracting keen investors from all over.
This article explores the top 10 best suburbs to invest in Brisbane in 2024, highlighting their affordability, growth potential, and proximity to key amenities like sporting venues and the highly anticipated 2032 Olympics.
What Makes These Suburbs Prime for Investment?
Several factors set certain Brisbane suburbs apart as standout investment opportunities in 2024:
- Affordability
- Potential for capital growth
- Proximity to sporting venues and Olympic sites
- Access to employment hubs and infrastructure
Brisbane’s overall property market outlook is positive long-term, with a median dwelling value of $735,394.
Affordable Growth Opportunities
For cost-effective investments with promising growth, consider these affordable Brisbane suburbs:
| Suburb | Median House Price | Median Unit Price | Rental Yield |
|---|---|---|---|
| Caboolture | $604,500 | $325,000 | 3.99% |
| Dakabin | $650,000 | $430,000 | 4.4% |
| Deception Bay | $600,000 | $390,500 | 4.22% |
| Eagleby | $532,500 | $345,000 | 4.72% |
| Ipswich City | $635,000 | $380,650 | 5.73% |
These suburbs offer median property prices from $320,000 to $727,500 – affordable entry points for investors.
But it’s not just pricing; they also attract strong demand thanks to:
- Excellent infrastructure
- Growing populations
- Favorable demographics
These suburbs not only provide affordable investment avenues but also captivate with their infrastructure, growing populations, and demographic allure.
Proximity to Olympic Venues
The 2032 Brisbane Olympics will significantly impact the property market, especially in suburbs close to major sporting venues like:
- Auchenflower (near Suncorp Stadium)
- Northshore (close to Olympic competition/training venues)
Annerley, for example, has a median unit price of $460,000 and offers easy access to major sporting venues.
Brisbane’s Top 10 Investment Suburbs for 2024
Having examined the factors that render some Brisbane suburbs ideal for investment, we are set to reveal the top 10 investment suburbs for 2024. These recommendations are based on annual property price growth and rental yield for houses and units alike.
These suburbs are a mix of affordability, growth potential, and proximity to employment hubs and strong infrastructure.
Whether you’re a first-time investor or an experienced property buyer, these suburbs offer a diverse range of investment opportunities to suit your needs. If you’re new to the property market, it’s crucial to learn how to buy an investment property.
Read on to discover the unique characteristics and investment potential of each suburb.
1. Teneriffe
Median House Price: $4,105,000
Teneriffe, a desirable riverside suburb, boasts a high median house price and is a prime investment location due to its close proximity to the CBD, lifestyle precincts, schools, and short commute times.
“Investing in Teneriffe offers numerous advantages, such as tax benefits, a robust rental market, high returns, easy access to international airports, and potential benefits from major infrastructure projects.”
Teneriffe’s rental market is in high demand, drawing buyers with its appealing location and amenities that charm potential tenants.
Convenient transportation options, including international airports and public transportation, further enhance Teneriffe’s investment appeal.
2. New Farm
Median House Price: $2,800,000
New Farm is a highly sought-after suburb with a village vibe, attracting strong buyer demand due to its amenities, schools, and public transportation options.
The median house price in New Farm is an impressive $2.63 million, and the average resident age of 20-39 years reflects its popularity among young professionals and families.
Boasting a population of 12,534, New Farm presents diverse investment opportunities in Brisbane’s robust property market.
Explore more properties for sale in New Farm.
3. Ascot
Median House Price: $2,400,000
Ascot is a sought-after suburb with the following features:
- Median property price of $2.17 million, reflecting Brisbane house prices in the area
- Excellent school catchment
- Convenient access to employment centers, such as the Central Business District (Brisbane CBD) and the airport
These factors make Ascot a prime investment location.
Currently, Ascot’s houses are attracting property investors, promising them the potential for significant returns and capital growth.
Explore more properties for sale in Ascot.
4. Wilston
Median House Price: $1,890,000
Wilston is a family-friendly suburb in Brisbane with a strong community spirit, making it an attractive investment option for established professionals and families seeking a cozy neighborhood feel.
With a good school catchment, modernized homes, and convenient transportation options, including a railway station and the Northern Busway, Wilston is well-positioned to take advantage of the expansion of Brisbane Airport.
Potential benefits of improved airport accessibility, coupled with the prospect of increased tourism and economic growth, render Wilston a compelling choice for investors.
Explore more properties for sale in Wilston.
5. Highgate Hill
Median House Price: $1,850,000
Highgate Hill, one of the best suburbs in Brisbane, is known for its exquisite dining selections, modern infrastructure projects, and immense popularity due to its close proximity to the city and some of Brisbane’s most esteemed schools.
Investing in Highgate Hill offers a variety of advantages, such as attractive rental yields, easy access to transportation infrastructure, potential for capital appreciation, stunning views of the river and cityscape, and a thriving sense of community.
Highgate Hill’s attraction for investment is further bolstered by major infrastructure projects, including a new train station, local bus network expansion, and the development of a new shopping center.
Explore more properties for sale in Highgate Hill.
6. Ashgrove
Median House Price: $1,655,000
Ashgrove, one of the top Brisbane suburbs, is an ideal location for established professionals and families, given its close proximity to the city and its inviting neighborhood atmosphere.
The median property price in Ashgrove, reflecting Brisbane house prices in the area, is $1.50 million. The suburb’s characteristics include:
- Population of 9,691
- Median age of 40-59 years
- Popular among families and couples
- Strong buyer demand in the property market
Explore more properties for sale in Ashgrove.
7. Taringa
Median House Price: $1,580,000
Taringa, one of the best suburbs in Brisbane, offers a picturesque and verdant landscape, is conveniently located near the city, and has excellent public transportation options with a train station and bus services.
The median property price in Taringa, reflecting Brisbane house prices in the area, is $1.45 million.
“The average age range of Taringa’s population is 20-39 years, a demographic that often attracts buyer demand in the property market.”
Taringa is suitable for families, young working professionals, and university students, making it one of the best suburbs to invest in Brisbane.
Explore more properties for sale in Taringa.
8. Wavell Heights
Median House Price: $1,315,120
Wavell Heights, a highly sought-after area in Brisbane real estate, is conveniently located near amenities and transport, including Chermside Shopping Centre, the airport, and the CBD.
The median property price in Wavell Heights, reflecting Brisbane house prices in the area, is $1.17 million.
With a population of approximately 9,691 and a median age range of 40-59 years, Wavell Heights attracts strong buyer demand in the property market.
Explore more properties for sale in Wavell Heights.
9. Tarragindi
Median House Price: $1,315,120
Tarragindi is a family-friendly suburb in Brisbane with convenient access to the city centre and well-developed infrastructure. Some key features of Tarragindi include:
- Convenient access to the city centre
- Well-developed infrastructure
- Family-friendly environment
- Median property price of $1.50 million
Tarragindi presents attractive investment opportunities due to its proximity to the CBD, its family-friendly atmosphere, and its good infrastructure, but investors should be aware of the limited investment opportunities and higher prices compared to other suburbs.
Explore more properties for rent in Tarragindi.
10. Eastern Heights
Median House Price: $595,000
Eastern Heights is an appealing suburb located in Ipswich, near Brisbane, known for its lush greenery and quiet streets. Some key features of Eastern Heights include:
- Proximity to Ipswich CBD
- Abundance of parks and green spaces
- Family-friendly environment
- Median property price of approximately $595,000
Eastern Heights presents reasonable investment opportunities due to its closeness to the Ipswich CBD, its family-friendly atmosphere, and its appealing green spaces.
However, investors should be aware of the moderate property prices and availability of investment opportunities compared to other booming suburbs.
Explore more properties for sale in Eastern Heights.
The Risks and Rewards of Investing in Brisbane’s Property Market
While the potential for capital appreciation and rental income makes the Brisbane property market an attractive investment option, there are also risks to consider, such as market fluctuations and the possibility of prices declining in certain areas.
However, most specialists anticipate that prices will remain on an upward trajectory despite potential impediments in the upcoming months.
Investing in Brisbane’s property market requires a keen focus on the fundamentals, prioritizing properties with robust growth potential, promising rental yields, and appealing locations. It’s essential to know how to find a hotspot in real estate to make the most out of your investmen.
Suggested Reading: Check out our article on the Best Suburb to Invest in Every Capital City in Australia to find out where you might want to make your next investment.
How to Identify the Right Investment Property in Brisbane
To find the right investment property in Brisbane, consider the following tips:
- Decide on the type of investment property that suits your needs and motivations.
- Take your budget into account to determine the type of property you can afford. If you’re looking for budget options, consider researching where you can find an investment property under $100k.
- Plan for ongoing investment costs to ensure you can sustain your investment in the long run.
- Stay informed about local property market trends to optimize your investment.
Adhering to these guidelines and keeping up-to-date with the latest developments in the Brisbane property market will equip you to make informed decisions and optimize your returns, with the help of real estate agents.
Check out more investment properties in Brisbane.
Summary
Brisbane’s diverse suburbs offer a plethora of opportunities for investors in 2024. By focusing on the outlined suburbs, acknowledging the inherent risks and rewards, and employing savvy investment strategies, you’re well-placed to capitalise on Brisbane’s dynamic property market.
Investing in Brisbane’s real estate market carries the dual promise of capital gains and rental income, with the prevailing sentiment being one of optimism for price growth. However, potential investors should weigh market fluctuations against the backdrop of Brisbane’s solid market fundamentals.
Frequently Asked Questions
Want more? Check out our round up of the best suburbs to invest in Australia in 2024 to finish off your research.
What suburbs are set to boom in 2024 Brisbane?
The suburbs expected to boom in Brisbane in 2024 include Albion, Woolloongabba, Coorparoo, Camp Hill, Redcliffe, Forest Lake, and North Lakes. These areas are projected to experience significant growth, especially with the upcoming 2032 Olympics.
What is the property forecast for Brisbane in 2025?
By 2025, Brisbane’s median house price is forecasted to be around $814,000. This prediction aligns with the broader trend of increasing property values across major Australian cities, including Sydney and Melbourne.
What suburbs in Brisbane have the best yields?
The suburbs in Brisbane offering the best yields include Murarrie, Kangaroo Point, Kelvin Grove, Teneriffe, and Cannon Hill. Brisbane City itself tops the list, with yields reaching 5.29 percent, making these areas attractive for property investors seeking strong rental returns.
Which suburbs will boom in 2024?
In 2024, emerging hotspots for property investment include inner-west areas like Five Dock and Marrickville in Sydney, and Canterbury-Bankstown. Additionally, growth opportunities are anticipated in far western suburbs such as Rooty Hill and Mount Druitt.
