5 Best Suburbs To Invest In Brisbane in 2024
Why invest in the Brisbane property market in 2024?
Investing in the Brisbane property market in 2024 presents a significant opportunity for property investors seeking long-term capital growth and strong rental yields. Here are some of the key reasons why Brisbane is poised for growth:
Major infrastructure projects
Brisbane is currently experiencing significant infrastructure developments which should extend property values. Projects like the Cross River Rail Brisbane Metro and various upgrades to the city’s roads public transportation and Brisbane Airport will improve connectivity and increase the city’s allure. The demand for real estate is predicted to rise as a result of these projects, especially in inner-city suburbs and areas that are advantageously close to the Brisbane CBD.
Population growth
Affordable housing compared to other major cities
In comparison to Sydney and Melbourne, the Brisbane market is still more affordable with substantially lower median house prices. For real estate investors, this presents a chance to get into a more affordable capital city market while still reaping the rewards of long-term growth. Brisbane house prices are anticipated to see further price increases in 2024 as more buyers and investors hunt for affordable housing close to the city centre.
High rental demand and strong rental yields
With many suburbs seeing low vacancy rates and high rental yields Brisbane’s rental market has demonstrated strong performance. The need for a rental market has surged due to the city’s growing population as well as the growth of the professional and student populations. Investors can anticipate high rental yields, especially in suburbs like Hamilton, New Farm, and, Toowong which have high rental yields and are in high demand.
Lifestyle appeal and infrastructure upgrades
Brisbane’s allure stems from both its economic and quality of life aspects. The city has a warm climate is close to the Sunshine Coast and Gold Coast and has an expanding selection of lifestyle locations. Also, it is anticipated that planned public transport upgrades and improved facilities like shopping centres, parks, and, cultural districts will increase Brisbane’s appeal as a place to invest and live.
What to consider when selecting the best suburb to invest in
When choosing the best Brisbane suburb for property investment, it’s essential to evaluate several factors to ensure you’re making a sound financial decision. These include:
Proximity to Brisbane’s CBD
Public transport and infrastructure
Choosing the right suburb requires considering its proximity to public transport and other infrastructure developments. Property prices and demand for rentals are projected to rise in suburbs with public transport upgrades such as new train stations or improved roads. Long-term development is especially aided by having easy access to Brisbane Airport’s major highways and rail connections.
Buyer demand and population growth
In comparison to Sydney and Melbourne, the Brisbane market is still more affordable with substantially lower median house prices. For real estate investors, this presents a chance to get into a more affordable capital city market while still reaping the rewards of long-term growth. Brisbane house prices are anticipated to see further price increases in 2024 as more buyers and investors hunt for affordable housing close to the city centre.
Rental yield
Affordability and median house prices
Start your investment journey with us
With $85,000 in savings or equity, you can begin or grow your investment portfolio with high-growth
properties in Australia's strongest property markets.
With $85,000 in savings or equity, you can begin or grow your investment portfolio with high-growth properties in Australia's strongest property markets.
Top Suburbs to Invest in Brisbane
Here are some of the top-performing suburbs for property investment in Brisbane, each offering a unique combination of growth potential, rental demand, and lifestyle amenities.
New Farm
Median Property Price: $2.7 million
Rental Yield: 1.94%
New Farm a suburb of inner-city Brisbane is still a sought-after location for investment property. Despite the high median property price in this area, there is a strong demand for rentals which guarantees a high rental yield. It is a popular choice for investors looking for long-term capital growth due to its closeness to the south bank, the city center, and cultural attractions like the Queensland Tennis Centre.
Chermside
Median Property Price: $900,000 to $925,000
Rental Yield: 3.2% to 4.2%
Popular in the north Chermside is a suburb noted for its robust public transportation system and retail areas. If you’re an investor searching for reasonably priced properties that yield well this is a great option. Its appeal is increased by the ongoing construction of shopping centres and hospitals nearby.
Carindale
Median Property Price: $1.05 million
Rental Yield: 3.6%
Strong long-term growth potential is provided by Carindale which has reasonable property prices and convenient access to public transport and major highways like the Gateway Motorway. With brand-new infrastructure projects like the Cross River Rail, the market for investment properties is in high demand and offers a robust annual rental yield.
Woolloongabba
Median Property Price: $890,000 million
Rental Yield: 4%
Important Brisbane suburb Woolloongabba gains from large-scale infrastructure projects like the Cross River Rail and the Brisbane Airport. Relatively median price compared to other city suburbs and in buyer demand, it continues to be one of the high rental yield suburbs and convenient access to public transport and Brisbane city.
Wynnum
Median Property Price: $1.15 million
Rental Yield: 3.3%
With easy access to the Brisbane CBD Wynnum which is near Moreton Bay is a great place to live. This Brisbane suburb is a desirable place for investment property because of its reputation for affordable housing capital growth and rising rental yields. Public transport upgrades and ongoing infrastructure developments also benefit the suburb.
Brisbane property market forecast 2024
Infrastructure developments
Brisbane is undergoing one of the largest infrastructure transformations in its history. Major infrastructure projects such as the Cross River Rail, which is designed to significantly improve transport across the city, are set to boost property prices in nearby inner-city suburbs. Suburbs like South Brisbane, New Farm, and those surrounding Brisbane Airport are expected to benefit the most from these developments.
The Cross River Rail will connect key employment hubs and suburbs, making commuting easier and driving demand for housing in areas with proximity to new stations and transit lines. Additionally, upgrades to Brisbane Airport and the development of the Brisbane Metro system will further enhance the city’s connectivity.
Population growth and buyer demand
As more people move to South East Queensland, the demand for housing in Brisbane continues to grow. Population growth is especially pronounced in outer suburban areas like Springfield, where large-scale urban development is attracting families and professionals seeking affordable housing options.
This increase in buyer demand will place pressure on the property market, resulting in rising median house prices across many Brisbane suburbs. As more interstate migrants look to Brisbane for its lifestyle and job opportunities, the demand for housing is set to drive growth in both capital values and rental yields.
Strong rental yields
Brisbane’s property market has long been favoured for its high rental yields, particularly when compared to other capital cities like Sydney and Melbourne. In 2024, rental yields in high-demand markets are expected to remain robust, as rental prices in Brisbane suburbs continue to rise. The strong buyer demand for rental properties, coupled with affordable housing prices in suburbs like Chermside and Brisbane Airport, ensures that investors can expect consistent income streams.
Interest rates and economic factors
Long-term capital growth
Start your investment journey with us
With $85,000 in savings or equity, you can begin or grow your investment portfolio with high-growth
properties in Australia's strongest property markets.
With $85,000 in savings or equity, you can begin or grow your investment portfolio with high-growth properties in Australia's strongest property markets.
Why choose the investors agency for Brisbane property investment?
Expert knowledge of Brisbane suburbs
Our buyers agent knows the Brisbane property market inside and out and is aware of the distinctive qualities of each suburb. Our team can assist you in selecting the best Brisbane suburb for your investment requirements whether your goal is to invest in high-yield suburbs like Chermside or investigate long-term growth in developing areas like Springfield.
Tailored investment strategies
We at The Investors Agency think that each investor’s path is different. We spend time getting to know your circumstances, risk tolerance, and, long-term goals to develop an investment plan that meets your needs. Whether you want rental income, capital growth, or both, we offer tailored guidance that optimizes your return on investment.
Access to investment grade properties
Our ability to find investment-grade properties that are well-positioned for long-term growth is one of the main benefits of working with The Investors Agency. To make sure that our clients are investing in properties that have the greatest chance of yielding profits in the future we closely examine property values, sales volumes, and, market trends.
Support throughout the investment journey
Key Takeaways
Brisbane property market is expected to continue to be among the best in Australia in 2024 providing investors with a special blend of affordable housing, high rental yields, and promising capital growth. There are plenty of opportunities in Brisbanes’ varied range of suburbs regardless of your level of experience. There is a suburb to fit every type of investment from high-demand markets like New Farm and South Brisbane to new growth areas like Springfield and Brisbane Airport. The time is ideal to invest in the Brisbane property market because of the city’s infrastructure developments which are fueling demand and population growth which is maintaining long-term property values.
Our goal at The Investors Agency is to guide our clients through the challenges of Brisbane real estate investing. We guarantee that your investments are well-positioned for future growth with our in-depth market insights customized strategies and expert knowledge.
FAQs
Is Brisbane a good place to invest in property?
What suburbs are expected to boom in Brisbane?
Suburbs like New Farm, South Brisbane, and Chermside are expected to experience significant growth due to major infrastructure projects and increasing buyer demand. Emerging areas like Springfield are also poised for strong growth as new developments attract more residents.
What are the most undervalued suburbs in Brisbane?
Suburbs near Brisbane Airport and Springfield are considered undervalued and offer excellent potential for long-term growth. These areas provide investors with affordable entry points and are expected to benefit from ongoing infrastructure projects.