Want to know where to find the cheap Aussie suburbs set to boom next?
The property market in Australia is evolving in 2024, with several affordable suburbs set to experience significant growth.
Knowing where to invest can make a big difference, whether you’re a first-time buyer or an investor.
Today, we explore affordable suburbs expected to boom in each state, with insights into why these areas are worth considering.
Western Australia (WA)’s Booming Suburbs
- Median House Price: $1,130,000 (Perth)
- Annual Price Growth: 10.3% in 2023
- Rental Vacancy Rate: 0.6%
1. Armadale
Median House Price: $501,000
Armadale is a growing suburb known for its affordability and excellent transport upgrades, such as the Metronet and Armadale Road improvements.
These changes have made commuting to Perth CBD much easier, drawing in young families and professionals. Armadale offers green parks, schools, and the Armadale Shopping City, making it an ideal spot for families.
With a 19.4% price growth in the last year, it shows strong potential for property investment.
The combination of accessible amenities and improved infrastructure is pushing up demand, making Armadale a suburb worth adding to the list of future growth suburbs in Perth.
Check out more properties for sale in Armadale WA.
2. Mandurah
Median House Price: $495,000
Mandurah provides a unique combination of affordable housing and coastal charm, making it popular with retirees, families, and holiday home buyers.
The ongoing Mandurah Foreshore Redevelopment and improvements to the Peel Health Campus are adding to the area’s growth.
The suburb is well-known for its canals, beaches, and vibrant dining spots. These attractions, along with its proximity to Perth (just under an hour’s drive), make Mandurah a fantastic place for those seeking a relaxed lifestyle.
Property values are expected to grow as more people are drawn to this laid-back coastal community.
Check out more properties for sale in Mandurah WA.
3. Rockingham
Median House Price: $642,500
Rockingham is a popular choice for those seeking affordable beachside living within Greater Perth. The suburb features beautiful beaches like Rockingham Beach and recreational spots like Shoalwater Islands Marine Park.
The new Rockingham Marina project aims to boost tourism, adding shops, restaurants, and waterfront activities. Families enjoy Rockingham for its quality schools, parks, and community feel. Employment opportunities at the nearby Kwinana industrial precinct also contribute to the area’s appeal.
These factors, combined with relatively low property prices, make Rockingham a promising investment with strong price growth potential.
Check out more properties for sale in Rockingham WA.
South Australia (SA)’s Booming Suburbs
- Median House Price: $926,500 (Adelaide)
- Annual Price Growth: 8.5% in 2023
- Rental Vacancy Rate: 1.1%
4. Salisbury
Median House Price: $1,090,000
Salisbury is an affordable suburb in Greater Adelaide, offering good value for families and investors alike. It benefits from being close to the Edinburgh Defence Precinct, which creates strong demand for rental properties.
Recent upgrades like the Salisbury Community Hub and better sporting facilities have boosted the area’s appeal. Salisbury also has excellent public transport, with a railway station providing quick access to Adelaide CBD.
Families are drawn to its schools and green spaces, and with increasing community investments, Salisbury is a growing market ideal for first-time buyers and those looking for the best suburbs to invest.
Check out more properties for sale in Salisbury WA.
5. Morphett Vale
Median House Price: $625,000
Morphett Vale is one of the largest and most well-known suburbs in Adelaide. Its affordable median house price makes it a great choice for families wanting more for their money. It offers easy access to the Southern Expressway, making commuting to both the city and the beaches convenient.
New developments, including local businesses and the upgrade of Noarlunga Hospital, have added to the suburb’s appeal.
Wilfred Taylor Reserve, with its playgrounds and sports facilities, makes Morphett Vale especially attractive to families. Property values are on the rise, making it a smart area for property investment.
Check out more properties for sale in Morphett Vale WA.
Queensland (QLD)’s Booming Suburbs
- Median House Price: $937,479 (Brisbane)
- Annual Price Growth: 9.2% in 2023
- Rental Vacancy Rate: 0.8%
6. Morayfield
Median House Price: $680,000
Morayfield is part of Greater Brisbane, offering affordable housing and a good quality of life. It’s well-connected by the Moreton Bay Rail Link, which is being expanded to improve access to Brisbane CBD.
Morayfield Shopping Centre, one of the largest in the area, provides plenty of shops and entertainment options, making the suburb convenient for residents.
The growing demand for family homes, supported by new residential developments, is driving price growth in Morayfield. With a mix of schools, parks, and shopping options, it’s a top choice for both families and investors.
Check out more properties for sale in Morayfield QLD.
7. Beaudesert
Median Price: $615,000
Beaudesert, located in Queensland’s Scenic Rim region, offers affordability alongside natural beauty. The recent upgrade of the Beaudesert Bypass has improved connectivity to Brisbane and the Gold Coast, making it an attractive option for commuters.
The nearby Bromelton State Development Area is expected to create thousands of jobs, increasing demand for homes.
Beaudesert also has a strong community vibe, with events like the Beaudesert Agricultural Show adding to its charm. Families and investors alike are seeing the potential in Beaudesert as both a livable suburb and a sound investment opportunity.
Check out more properties for sale in Morayfield QLD.
8. Hamilton
Median House Price: $2,400,000
Hamilton is a prestigious suburb on the Brisbane River, known for its Queenslander-style homes and waterfront parks. The suburb is also part of the Northshore Hamilton development, which will serve as the athletes’ village for the 2032 Olympics before being converted into residential units.
This transformation and upgrades to the Portside Wharf dining precinct make Hamilton a hotspot for future growth.
The bustling Eat Street Northshore markets add further attraction to the area, making it a perfect spot for both investors and families seeking a high-quality urban lifestyle.
Check out more properties for sale in Hamilton QLD.
Victoria (VIC)’s Booming Suburbs
- Median House Price: $850,000 (Melbourne)
- Annual Price Growth: 6.9% in 2023
- Rental Vacancy Rate: 1.2%
9. Mickleham
Median House Price: $673,000
Mickleham, located in Melbourne’s north-west, is one of the city’s fastest-growing suburbs. With new housing developments like Merrifield, which includes retail, dining, and park facilities, Mickleham is attracting many young families.
The suburb benefits from new schools such as Gaayip-Yagila Primary School and a large sports complex.
Mickleham’s location near Melbourne Airport and the planned Outer Metropolitan Ring Road makes commuting easier, adding value for homebuyers and investors. The ongoing population growth and new infrastructure are expected to drive further price growth in this promising suburb.
Check out more properties for sale in Mickleham VIC.
10. Thomastown
Median House Price: $709,900
Thomastown is located just 17 km north of Melbourne’s CBD and offers a mix of affordability and convenience. Thomastown Railway Station provides a direct commute to the city, making it ideal for professionals.
High Street, Thomastown’s main thoroughfare, features diverse restaurants and cafes, reflecting the area’s multicultural community.
Recently upgraded local amenities, such as the Thomastown Recreation and Aquatic Centre, have increased the area’s appeal for families.
This growing community, combined with ongoing developments, makes Thomastown an attractive choice for those looking to invest in Melbourne’s north.
Check out more properties for sale in Thomastown VIC.
11. Spotswood
Median House Price: $1,125,000
Spotswood is an up-and-coming suburb in Melbourne’s inner west, often overlooked in favor of neighbors like Seddon and Yarraville.
With a strong track record of price growth and proximity to Scienceworks Museum and Grazeland Melbourne food market, Spotswood has plenty to offer residents. It boasts excellent road and rail links, providing easy access to Melbourne CBD.
The suburb is seeing new housing developments and infrastructure improvements that are expected to increase property values. Its community feel, combined with expanding amenities, makes Spotswood a solid choice for both investors and families.
Check out more properties for sale in Spotswood VIC.
New South Wales (NSW)’s Booming Suburbs
- Median House Price: $1,627,625 (Sydney)
- Annual Price Growth: 7.8% in 2023
- Rental Vacancy Rate: 1.3%
12. Raby
Median House Price: $860,000
Raby, located in Sydney’s southwest, offers affordable living while being close to significant infrastructure developments.
The upcoming Western Sydney International Airport is set to boost the area’s economy, bringing jobs and making Raby more attractive to buyers. The suburb is also close to Minto Mall and various public schools, making it practical for families.
Access to the Hume Motorway means residents can easily commute to Sydney CBD. Local parks, such as Kemps Creek Nature Reserve, provide green spaces for relaxation, making Raby a balanced option for families and investors alike.
For more options in the area, check out the cheapest suburbs in Sydney.
And visit Soho.com.au to explore more properties for sale in Raby NSW.
13. Fairfield
Median House Price: $1,550,000
Fairfield is one of Sydney’s most multicultural areas, with over 70% of its residents born overseas. This vibrant community offers a wide variety of shops, cafes, and restaurants reflecting diverse cultures.
Fairfield’s proximity to the Western Sydney International Airport, which will open in 2026, is expected to drive demand for homes.
The suburb is a major transport hub, with a large train station connected to multiple railway lines, providing direct routes to Parramatta and Sydney CBD.
Recent development of medium-density housing has created affordable ownership opportunities, making Fairfield ideal for investors and first-time buyers.
Visit Soho.com.au to explore more properties for sale in Fairfield NSW.
14. Glenorie
Median House Price: $2,720,000
Glenorie is a semi-rural suburb about 44 km from Sydney CBD, known for its large properties and tranquil lifestyle. Many homes in Glenorie are set on acreage, making it perfect for families looking for space, with features like horse stables and paddocks.
The Glenorie Horse & Pony Club is a key part of the community, hosting events for local families. Despite its rural feel, Glenorie is just a short drive from major shopping centers at Castle Hill and Rouse Hill, providing convenience.
The combination of rural charm and suburban amenities is driving steady price growth.
Visit Soho.com.au to explore more properties for sale in Glenorie NSW.
Tasmania (TAS)’s Booming Suburbs
- Median House Price: $930,000 (Hobart)
- Annual Price Growth: 6.5% in 2023
- Rental Vacancy Rate: 0.5%
15. Rokeby
Median House Price: $600,000
Rokeby is one of Hobart’s most affordable suburbs and has seen a surge in popularity due to its proximity to the city and recent developments. Located just 15 minutes from Hobart CBD, Rokeby offers great value for young families and first-time buyers.
New residential projects and upgrades to local roads have made it more attractive. Rokeby Park provides ample space for outdoor activities, and local schools make it convenient for families.
The growing number of young families moving in is transforming Rokeby into a lively community, making it a promising option for property investment.
Visit Soho.com.au to explore more properties for sale in Rokeby TAS.
16. Kingston
Median House Price: $620,000
Kingston is a thriving suburb situated 12 km south of Hobart, known for its family-oriented lifestyle. With Kingston Beach nearby, residents enjoy easy access to coastal activities.
The Channel Court Shopping Centre serves as a hub for local shopping and dining, while several schools, including Kingston High School, make it suitable for families.
New housing developments and upgrades to Kingborough Sports Centre are adding to the area’s appeal.
Kingston combines suburban convenience with proximity to Hobart, which makes it attractive for buyers seeking quality of life without the high price tag of inner-city living.
Visit Soho.com.au to explore more properties for sale in Kingston TAS.
17. Moonah
Median House Price: $610,000
Moonah is an up-and-coming suburb just 5 km north of Hobart’s city center, known for its affordable housing and vibrant community.
The Main Road area is bustling with cafes and restaurants that showcase the suburb’s cultural diversity. Moonah is also popular for its creative scene, featuring art galleries and studios.
The Intercity Cycleway passes through Moonah, providing a scenic route into Hobart, ideal for those who prefer cycling.
The suburb’s location, affordability, and growing community make it a solid choice for both homebuyers and investors looking for a strong price growth outlook.
Visit Soho.com.au to explore more properties for sale in Moonah TAS.
Major Trends in Cheap Aussie Suburbs Set to Boom
The Impact of Infrastructure Projects
Infrastructure projects play a significant role in boosting property values. New roads, better transport, and community upgrades make suburbs more desirable for buyers.
In 2024, suburbs like Raby (NSW), with the upcoming Western Sydney International Airport, and Hamilton (QLD), preparing for the 2032 Olympics, are expected to benefit greatly. Improved transport and job creation from these projects are pushing these areas towards steady growth.
Migration Trends: Why Regional Areas Are Gaining Popularity
More people are choosing regional areas over busy capital cities. The regional resurgence is driven by affordable homes and better quality of life.
Suburbs like Mansfield (VIC) and Rokeby (TAS) offer more space at a lower cost, which is very appealing.
The rise of remote work means people no longer need to live close to their jobs, encouraging the move to more affordable regional suburbs. These trends are helping regional suburbs grow faster than ever before.
FAQs on ‘Cheap Aussie Suburbs Set to Boom’
What makes a suburb set to boom?
Major factors include new infrastructure, growing population, and increased amenities.
How can infrastructure projects affect property values?
Projects like new roads or airports can increase accessibility and drive demand, leading to higher property prices.
Is it better to invest in regional or city suburbs in 2024?
Both have their benefits: regional areas offer more affordability, while city suburbs provide better connectivity and amenities.
What amenities should I look for in a booming suburb?
Look for quality schools, parks, shopping centers, and transport options, as these add value and attract residents.
