The top 10 Brisbane suburbs to buy an investment property in 2024
With high population growth, low rental vacancy, and excellent rental yields Brisbane remains a hot spot for property investors in 2024. 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 Brisbane 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, property affordability is often a consideration too. Up and coming suburbs in Brisbane 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 updated this guide for 2024. Let’s dive into the top 10 best investment suburbs in Brisbane to buy an investment property.
1. Ashgrove
Nestled just 4 kilometers from Brisbane’s bustling heart, Ashgrove is a charming and sought-after suburb for investment. Boasting a cozy ambiance, this locale is a magnet for families and couples alike, with robust demand from both buyers and renters.
With a population of 13,039 residents, Ashgrove offers a tranquil retreat while maintaining close proximity to the city’s amenities. The median house price stands at $1,475,000, reflecting the suburb’s desirability, while the median rental yield holds steady at 2.7%, underscoring its appeal as an investment destination in Brisbane.
2. Keperra
Keperra, nestled within Brisbane’s middle ring suburbs, is great for investors seeking a blend of community warmth and understated charm. Boasting a population of 6,791 and a median property price of $825,000, Keperra is mainly populated by individuals aged between 20 and 39.
With its upcoming development plans, including new train stations, Keperra is poised for a transformation that will enhance its connectivity to greater Brisbane. Limited property availability and swift sales have sparked demand, setting the stage for a potential surge in property prices.
3. Wavell Heights
Wavell Heights stands as a sought-after destination within Brisbane’s real estate scene, with its median property price soaring to $1.2 million and a vibrant population of 9,691 residents. Renowned for its accessibility to amenities and transportation, this suburb is a fantastic choice for Brisbane investors.
Situated just moments away from the bustling Chermside Shopping Centre, and boasting a mere 10-minute travel time to both the airport and CBD, Wavell Heights offers unparalleled convenience. With its prime location and high demand, this suburb presents an enticing opportunity for property investment.
4. 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.
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. 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.
9. Cannon Hill
Cannon Hill is often considered one of the best Brisbane suburbs to buy in mainly because of its mix of excellent schools, close by shopping centres and convenient public transport links. Over recent years, the property market in this suburb has experienced significant growth, reflecting its increasing desirability among investors.
With ongoing gentrification efforts to rejuvenate shopping centers and older homes, Cannon Hill offers a blend of modern amenities and established charm. Median property prices over the last year range from $1,200,000 for houses and $542,500 for units. Houses in Cannon Hill command an annual rental yield of 3.3% whilst units have a rental yield of 5.2%.
10. Salisbury
With a population of 8,207 residents, Salisbury emerges as a prime investment destination in Brisbane, offering affordability and promising returns for investors. Situated 12km from the city center, Salisbury presents an attractive option for those seeking more budget-friendly investment opportunities in Brisbane. The suburb boasts a median house price of $960,000 and a robust median rental yield of 3.6%, indicating strong potential for returns on investment.
Prospective investors will find Salisbury appealing for its accessibility and high demand for rental properties, ensuring a steady stream of income. However, challenges such as limited property availability and varying quality levels may pose obstacles for some investors.
Despite these considerations, Salisbury’s promising rental market and favorable investment conditions make it a noteworthy suburb for those looking to enter the Brisbane property market.
Conclusion
Brisbane’s property market is still going strong in 2024. Continued 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.
