The top 10 Brisbane suburbs to buy an investment property in 2023

With high population growth, low rental vacancy, and excellent rental yields Brisbane is a hot spot for property investors. For interstate investors, Brisbane’s still relatively low house prices and high yields look rather appealing. But it can be a challenge to know exactly which suburb to invest in.

Generally, when investing in property you want to find an area that has a lot of potential for future demand and growth. These areas usually have easy access to public transport (especially train lines), quality schools, ample parklands, and easy access to shops and hospitals.

To help you uncover which suburbs in Brisbane tick these boxes and offer excellent investment opportunities, we have created this guide. Let’s dive into the top 10 suburbs to buy an investment property in 2023.

1. West End

West End has undergone a massive transformation over the past decade. Turning from a rough working-class neighbourhood, into a glitzy centre of art, theatre, dining, and riverside living. This suburb is beyond up-and-coming, it has arrived.

As far as a suburb for investment goes, West End is extremely popular with sub 1% vacancy rates, high average rental yields, and excellent apartment stock. The combination of frequent busses, CityCats, and a pleasant bike path along the river straight into the city, makes West End a highly accessible suburb. Combined with the proximity to arts and dining options has made West End one of the most popular inner-city suburbs of Brisbane.

While houses in West End may be expensive, apartments are much more affordable. You will find a wide variety of apartments that are popular with young professionals, downsizers, and students who want to call the suburb home.

2. Annerley

With Brisbane hosting the 2032 Olympics, the suburbs close to sporting venues can expect to see a huge boost. Historically, suburbs close to Olympic events see huge gains from the Olympics. Annerley is likely to be no exception.

Situated next to Woolloongabba, Annerley is expected to benefit immensely from the huge levels of investment happening in Woolloongabba. It also has great public transport connections, a major hospital, proximity to universities, and the Pacific Motorway.

Units in Annerley are more affordable than those in West End but continue to see great rental yields. In fact Annerley has an even lower vacancy rate at 0.2%. It is an extremely popular suburb simply because of its proximity to everything Brisbane has to offer.   

3. Kelvin Grove

Close to both the Brisbane CBD and the Queensland University of Technology (QUT), Kelvin Grove is a popular leafy suburb. This suburb has an eclectic mix of students and young professionals who love the suburb’s proximity and character. Kelvin Grove is filled with a mix of houses, apartments, and townhouses.

What makes this suburb great for investors is its steady popularity. With a major university nearby and the CBD so close, the suburb is constantly on many Brisbanites’ watch lists. This popularity will only increase with proximity to new developments like the Brisbane Metro and Victoria Park.

4. St Lucia

Similarly to Kelvin Grove, this suburb’s proximity to a major university makes it extremely popular. St Lucia surrounds the enormous University of Queensland campus. Which not only has thousands of students, it also is a major employment hub.

St Lucia is also a much older, well-established, quiet suburb. It tends to have older homes, apartments and townhouses. The suburb is extremely popular amongst students, young professionals and even downsizers. While transport connections aren’t the best in the city, it has a great ferry service and frequent busses.

What makes St Lucia popular for investors is that it has been such a mainstay suburb in Brisbane. It is ever popular, with little chance of major developments that majorly affect the suburb’s vacancy rate.

5. Ascot

Perfectly positioned between two of Brisbane’s largest employment suburbs, the CBD and the Airport, Ascot is one of the city’s most in-demand suburbs. Considered to be one of Brisbane’s “old-money” suburbs, Ascot is leafy green, quiet, and filled with gorgeous Queenslander houses.

Ascot has a reputation for being one of the best suburbs in the city to live in. This means it is always in high demand. Fortunately for investors, there are some great apartments and houses available, if you have the cash. Unfortunately, Ascot is expensive. But it comes with a high rental yield and high demand.

There are many indicators to suggest that Ascot will continue to be highly valuable well into the future. With its proximity to the bustling Hamilton development precinct, recent road upgrades, and future benefits from the Olympic village being built further along in North Shore.

6. Stafford

Stafford is very central on Brisbane’s north side. With Chermside shopping centre to its north, the CBD to the south, the airport to the east, and a foodie hub in Everton Park to the west. This location makes it desirable for families and professionals.

Despite not being on a rail line, Stafford has some bus connectivity, which still makes it accessible for most people. The suburb is filled with a mix of family homes, townhouses and units. It also has access to a wide range of schools.

All of these positives make Stafford an in-demand suburb. It has a low vacancy rate and strong rental yields which make it attractive to investors.

7. Paddington

Paddington has become one of Brisbane’s trendiest suburbs. Filled with some of the city’s best brunch spots and close to major event venues, this is a suburb loved by young professionals. It is also close to universities, which means a lot of students and university staff look to the area.

Paddington has a mix of large homes, older units, and townhouses. This variety allows it to attract a mix of people who are looking to call the suburb home. Accessibility to Paddington is provided through a few high-frequency bus routes.

Paddington’s high desirability, proximity to the city, and mix of people make it an ever-popular suburb for investors.

8. Carindale

Located in a middle-ring suburb in eastern Brisbane, Carindale has seen strong growth. House prices have grown to a median of $980,000. Rents have also been surging due to the suburb’s popularity.

Situated next to one of Brisbane’s biggest shopping centres, and known for its good infrastructure, Carindale is a suburb loved by families. There are a lot of family-sized homes in the area and excellent schools, making it ever popular with younger or established families.  

9. Chermside West

Similarly to Carindale, Chermside West is located right near a major shopping centre and is surrounded by great schools. It also has easy access to hospitals and some good bus lines. All of which make Chermside West extremely popular with families.

Despite being further away from the city, it offers quiet living in larger standalone homes. It also tends to be more affordable than other Brisbane suburbs. This has made it a much-loved suburb.

There has been a lot of discussion about building a railway nearby, which if it goes ahead, would be game-changing for this suburb. Its major flaw is public transport and accessibility into the city. But for families that love this suburb, this is generally a trade-off they can live with.

10. Aspley

Next door to Chermside West is Aspley. This suburb has all the advantages of Chermside West but is slightly further out from the city. It has seen consistent growth in popularity and with that, its housing prices.

Aspley is loved for its accessibility to schools, major shopping centres, and family homes. It is the perfect suburb for raising a family, making it popular with young and established families.

This popularity has seen Aspley grow, and its rental vacancy rate drop.

Conclusion

In 2023, Brisbane’s property market is going strong. High interstate migration has led to a boom for investors across the city. This boom is not expected to ease for some time, with high investment and interest continuing in the city. Brisbane is marking its place in Australia, showing the world that it deserves as much recognition as Sydney and Melbourne. With this has come great potential for property investors.

If you want help in managing your investment property, come speak to the Brisbane property management experts at Link Living.