Investing in Queensland’s property market in 2024 presents numerous opportunities for growth and stability. The state’s diverse range of suburbs offers promising returns for both seasoned property investors and those beginning their property investment journey.
This article explores the best suburbs to invest in Queensland 2024, focusing on key areas in Brisbane and the top suburbs in regional Queensland.
Best Suburbs to Invest in Queensland: Units vs Houses
To get some initial insights, Soho spoke to local property expert, Pete Wargent from Allen Wargent – a boutique buyer’s agency from 2013, they specialise in Queensland, amongst other regions. Here were his thoughts:
Units
In Brisbane, for units we like to invest in boutique unit blocks in the blue chip suburbs of the city, where supply is constrained by zoning and height restrictions.
Some of the suburbs we like to invest in include New Farm, Teneriffe, Ascot, and Newmarket.
We like to invest in small developments of 4 to 12 units, and there are some X-factors which give the property an element of scarcity value, including some outdoor space and a district or water view, for example.
For this property type, we tend to avoid units with expensive amenities such as elevators, heated swimming pools, a gym, or a 24-hour concierge.
We like to buy established units with the potential to add some value through renovation, and a strong walkscore to local amenities, great schools, entertainment and transport options.
Houses
The market has been competitive for houses in Brisbane over the past couple of years, particularly around the $750k to $1m price point.
We generally favour some of the landlocked northside suburbs, with strong transport access to the city.
We like to focus at least as much on finding the right street and the right property type as restricting ourselves to certain post codes, but there’s some value to be found in pockets of Mitchelton, Chermside, Stafford Heights, and Zillmere, for example.
Outside of the main part of Brisbane, we are finding some value in Ipswich, in Southport or certain suburbs to the northern end of the Gold Coast, and particularly the Sunshine Coast, where the market has cooled since a pandemic-driven frenzy.
Those seeking value for money on the Sunshine Coast might consider Tewantin, Coolum Beach, Buderim, Cooroy, and Sunrise Beach, as great lifestyle suburbs with relatively accessible price entry points.
More Suburbs to Consider in Brisbane
Highgate Hill
Highgate Hill, located close to the Brisbane CBD, is a sought-after suburb known for its strong investment potential. With a population of 6,190, this suburb has 45.36% of its occupants living in rental accommodation, indicating a high demand for rental properties.
- Median House Price: $1,900,000 (12.09% increase over the past year)
- Median Rent: $750 per week (Rental Yield: 2.05%)
- Median Unit Price: $795,000 (19.72% increase over the past year)
- Median Rent for Units: $530 per week (Rental Yield: 3.46%)
Highgate Hill’s proximity to the central business district and major infrastructure projects makes it attractive for potential investors. The ongoing development in and around the area enhances its investment appeal, offering a blend of urban convenience and a high-quality lifestyle .
Highgate Hill’s combination of high rental yields and capital growth makes it an ideal spot for those looking to make a property investment. The suburb’s diverse population and vibrant community add to its charm, making it a desirable location for both investors and residents.
Check out more properties for sale in Highgate Hill QLD 4101.
Ashgrove
Ashgrove is a family-friendly suburb with a population of 13,038. It boasts a mix of residential charm and modern amenities, making it a prime location for property investment.
- Median House Price: $1,618,000 (11.58% increase over the past year)
- Median Rent: $725 per week (Rental Yield: 2.33%)
- Median Unit Price: $662,500
- Median Rent for Units: $570 per week (Rental Yield: 4.53%)
Ashgrove’s strategic location and high property values contribute to its economic growth potential. The suburb’s close proximity to the city center and its well-established infrastructure make it an attractive option for property investors .
The ongoing development in Ashgrove, including new parks, schools, and shopping centers, enhances its investment potential. The suburb’s appeal to families and professionals ensures steady demand for rental properties, providing reliable rental yields median property prices.
Check out more properties for sale in Ashgrove QLD 4060.
Taringa
Taringa, situated in the western suburbs of Brisbane, is known for its picturesque landscape and excellent public transport options. It has a population of 8,377 and a substantial percentage of rental properties.
- Median House Price: $1,350,000 (25.58% increase over the past year)
- Median Rent: $720 per week (Rental Yield: 2.77%)
- Median Unit Price: $600,000 (9.28% increase over the past year)
- Median Rent for Units: $510 per week (Rental Yield: 4.42%)
The suburb’s high rental yields and steady price growth make it a popular choice buy investment property among savvy investors. Taringa’s blend of residential tranquillity and urban accessibility enhances its investment potential.
For those considering investing in best suburbs in Brisbane, Taringa is a notable option.
Taringa is well-served by public transport, with easy access to the Brisbane CBD and major universities. This makes it a popular choice for students and young professionals, driving demand for rental properties and ensuring a steady income stream for investors.
See our full article on the best suburbs to invest in Brisbane for more.
Regional Queensland
Bargara
Bargara, located in the Bundaberg Region, is a coastal suburb with a growing reputation among property investors. It offers a relaxed lifestyle with strong capital growth prospects.
- Median House Price: $731,000 (7.65% increase over the past year)
- Median Rent: $580 per week (Rental Yield: 4.12%)
- Median Unit Price: $640,000 (28.25% increase over the past year)
- Median Rent for Units: $470 per week (Rental Yield: 3.81%)
Bargara’s strategic location and affordable housing options make it an appealing destination for both local and interstate investors. The suburb’s high rental yields, ongoing investment costs and robust property market dynamics offer promising returns .
The suburb’s scenic beaches, recreational facilities, and vibrant community life attract a diverse range of residents. Bargara’s ongoing development projects, including new residential and commercial developments, further boost its investment potential.
Check out more properties for sale in Bargara QLD 4670.
Berserker
Berserker in Rockhampton is known for its affordability and high rental yields. This suburb is ideal for investors looking for affordable entry points with significant growth potential.
- Median House Price: $335,000 (17.54% increase over the past year)
- Median Rent: $420 per week (Rental Yield: 6.51%)
- Median Unit Price: $270,000 (1.88% increase over the past year)
- Median Rent for Units: $350 per week (Rental Yield: 6.74%)
Berserker’s high demand for rental properties and its consistent price growth over the past years make it a viable option for investment property opportunities in regional Queensland.
The suburb’s affordability, combined with its proximity to essential amenities and services, makes it an attractive option for both tenants and investors. Berserker’s high rental yields and strong growth potential ensure steady returns on investment.
Check out more properties for sale in Berserker QLD 4701.
Blacks Beach
Blacks Beach, located in the Mackay Region, is known for its scenic coastline and high rental yields. This suburb offers a mix of lifestyle and investment appeal.
- Median House Price: $445,000 (5.95% increase over the past year)
- Median Rent: $550 per week (Rental Yield: 6.42%)
- Median Unit Price: $295,000 (1.34% decline over the past year)
- Median Rent for Units: $450 per week (Rental Yield: 7.93%)
The combination of affordable housing and high rental yields makes Blacks Beach a lucrative option for investors looking for investment opportunities in a coastal location.
Blacks Beach’s serene environment, coupled with its proximity to Mackay’s business district, makes it an attractive destination for families and professionals. The suburb’s ongoing development and infrastructure improvements further enhance its investment potential.
Check out more properties for sale in Blacks Beach QLD 4740.
Conclusion
Investing in Queensland’s property market in 2024 offers promising opportunities for both seasoned and new investors. Suburbs like Highgate Hill, Ashgrove, and Taringa in Brisbane, along with Bargara, Berserker, and Blacks Beach in regional Queensland, present strong growth potential, high rental yields, and attractive living conditions.
Each suburb has unique attributes that cater to different investment strategies, ensuring a diverse range of opportunities for property investors.
For those considering the best place to invest in Australia, the suburbs mentioned in this article offer promising opportunities. To explore more investment options and find suitable properties, you can find real estate for sale in these areas.
FAQ Section on ‘Best Suburbs to Invest in Queensland 2024’
Where is the best place to invest in 2024 in QLD?
Brisbane remains the top investment destination in Queensland for 2024. With a robust population growth and a burgeoning economy, it is set for significant price growth in both residential and commercial markets.
Where to buy in Australia in 2024?
Noteworthy locations for investment property in Australia in 2024 include Manly and Parramatta in New South Wales, Fortitude Valley in Queensland, and Carlton in Victoria, among others.
What are the other regions set to boom in QLD?
Investors should keep an eye on Bundaberg, Townsville, Rockhampton, Warwick, and Gatton, as these areas demonstrate strong or strengthening local economies, making them prime for property investment.
What are Brisbane’s top suburbs to invest in for 2024?
Key suburbs in Brisbane projected to experience growth include Teneriffe, New Farm, Southport, and Wilston, making them attractive options for property investors in 2024.
