Top 10 Suburbs to Invest in Across QUEENSLAND: Reviewed and Ranked in 2024

Identifying the Best Suburbs to invest in across Queensland can be challenging. Choosing the wrong area could result in financial losses, rental vacancies, and a poor return on investment in 2024. Standout suburbs like Springfield Lakes and Sunnybank lead the way with impressive scores. My comprehensive research, based on key criteria, is here to help you make an informed decision. Read below, to identify the other top investment suburb, across Queensland.

10. Toowong – Total Score: 75/100

Toowong offers a mix of positives and negatives for potential investors, with its strong community feel and high rental yield but higher median house prices.

Scoring Criteria: 

• Market Growth: 7/10
• Rental Yield: 8/10
• Employment Opportunities: 7/10
• Population Growth: 6/10
• Quality of Schools: 8/10
• Community and Lifestyle: 8/10
• Median House Price: 5/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 8/10
• Rental Vacancy Rate: 9/10

Toowong is a vibrant inner-city suburb known for its excellent public transport, strong community vibe, and high rental demand. Its close proximity to the CBD and the University of Queensland makes it highly attractive for young professionals.

Firstly, Toowong boasts strong public transport links with frequent buses and trains, ensuring easy commutes. Recent statistics show a 15% increase in train services over the past two years, improving accessibility. Secondly, Toowong’s rental yield stands at a robust 4.5%, making it a lucrative option for investors. Thirdly, the suburb is home to top-rated schools like Toowong State School, enhancing its appeal to young families. Finally, Toowong’s vibrant café and dining scene, along with its shopping precinct, offer a high-quality lifestyle, contributing to its community’s liveliness.

However, Toowong’s higher median house price of around $1.2 million may be a barrier for some investors. The suburb also faces occasional traffic congestion, particularly during peak hours. Additionally, the population growth rate has slowed to 1.8% annually, slightly lower than neighbouring areas.

Median prices for Toowong, QLD (4066), as of July 2024:

• Houses – $1,587,500
• Units – $625,000

House and unit data provided by, https://www.realestate.com.au/qld/toowong-4066/

Overall, Toowong’s excellent public transport, high rental yield, and quality of life make it a worthy investment despite its higher entry cost and slower population growth.

9. Ashgrove – Total Score: 77/100

Ashgrove combines a family-friendly atmosphere with strong community ties but has higher median house prices and limited public transport options.

Scoring Criteria: 

• Market Growth: 7/10
• Rental Yield: 7/10
• Employment Opportunities: 8/10
• Population Growth: 7/10
• Quality of Schools: 9/10
• Community and Lifestyle: 9/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 6/10
• Local Amenities: 8/10
• Rental Vacancy Rate: 10/10

Ashgrove is known for its family-friendly environment, excellent schools, and strong community ties. Its appeal is further enhanced by a low rental vacancy rate and good local amenities.

Ashgrove’s top-rated schools, like Marist College Ashgrove, make it ideal for families. The suburb’s rental vacancy rate is impressively low at 1.2%, indicating strong rental demand. Employment opportunities are abundant, with the suburb’s proximity to Brisbane’s CBD ensuring a short commute. Community events and local markets, such as the Ashgrove Farmers Market, foster a strong sense of community.

On the downside, Ashgrove’s median house price is relatively high at around $1 million. Public transport options are somewhat limited compared to other inner-city suburbs. Additionally, while the population growth rate is steady at 2%, it is not among the highest in Brisbane.

Median prices for Ashgrove, QLD (4060), as of July 2024:

• Houses – $1,665,000
• Units – $689,500

House and unit data provided by, https://www.realestate.com.au/qld/ashgrove-4060/

In summary, Ashgrove’s excellent schools, strong community spirit, and low rental vacancy rate make it a great investment option, though potential buyers must consider the higher median house prices and limited public transport.

8. Carindale – Total Score: 78/100

Carindale offers a well-rounded suburban lifestyle with excellent amenities and growth potential but faces challenges with traffic congestion and higher housing costs.

Scoring Criteria: 

• Market Growth: 8/10
• Rental Yield: 7/10
• Employment Opportunities: 8/10
• Population Growth: 8/10
• Quality of Schools: 8/10
• Community and Lifestyle: 8/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 7/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Carindale is a popular choice for families and young professionals due to its excellent amenities, quality schools, and robust market growth.

Carindale Shopping Centre, one of the largest in Brisbane, offers unparalleled retail options. The suburb’s population growth rate is strong at 2.5% annually, indicating a healthy demand for housing. Quality schools, such as Carindale State School, contribute to its family-friendly appeal. Additionally, the rental yield in Carindale is around 4%, making it attractive for investors seeking steady returns.

However, Carindale’s median house price is on the higher side, averaging $950,000. Traffic congestion during peak hours can be a drawback, affecting commute times. Public transport, while available, could be more extensive to better serve its growing population.

Median prices for Carindale, QLD (4152), as of July 2024:

• Houses – $1,560,000
• Units – $835,000

House and unit data provided by, https://www.realestate.com.au/qld/carindale-4152/

Overall, Carindale’s excellent amenities, strong population growth, and quality schools make it a desirable investment location despite the traffic congestion and higher median house prices.

7. North Lakes – Total Score: 80/100

North Lakes combines affordability with strong growth potential but faces challenges with public transport and occasional traffic issues.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 7/10
• Population Growth: 9/10
• Quality of Schools: 7/10
• Community and Lifestyle: 8/10
• Median House Price: 9/10
• Public Transport and Infrastructure: 6/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 8/10

North Lakes is a rapidly growing suburb known for its affordable housing, strong market growth, and vibrant community.

North Lakes’ median house price is more affordable at approximately $800,000, making it accessible for a broader range of investors. The suburb’s market growth is impressive, with house prices increasing by 10% over the past year. Population growth stands at a healthy 3% annually, indicating strong demand. The local amenities, including Westfield North Lakes and numerous parks, add to the suburb’s appeal.

However, public transport options are somewhat limited, which can be a drawback for commuters. Traffic congestion is another issue, particularly during school drop-off and pick-up times. Additionally, while employment opportunities are available, they are not as abundant as in some inner-city suburbs.

Median prices for North Lakes, QLD (4509), as of July 2024:

• Houses – $820,500
• Units – $555,000

House and unit data provided by, https://www.realestate.com.au/qld/north-lakes-4509/

In summary, North Lakes offers strong growth potential and affordability, making it a compelling investment choice despite its public transport and traffic challenges.

6. Redcliffe – Total Score: 81/100

Redcliffe offers a coastal lifestyle with good growth potential and rental yield but faces challenges with public transport and employment opportunities.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 9/10
• Employment Opportunities: 6/10
• Population Growth: 9/10
• Quality of Schools: 7/10
• Community and Lifestyle: 9/10
• Median House Price: 7/10
• Public Transport and Infrastructure: 7/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Redcliffe is a coastal suburb known for its scenic beauty, strong community, and good rental yield, making it an attractive investment option.

The suburb’s rental yield is a solid 4.2%, indicating steady demand for rental properties. Redcliffe’s market growth is strong, with a 9% increase in house prices over the past year. Local amenities, including Redcliffe Lagoon and the Redcliffe Jetty, enhance its lifestyle appeal. The suburb’s population growth rate is a healthy 2.5%, showing consistent demand.

However, public transport options could be improved to better serve its growing population. Employment opportunities within Redcliffe are somewhat limited, with many residents commuting to Brisbane for work. Additionally, while the median house price of around $750,000 is reasonable, it is higher than some other outer suburbs.

Median prices for Redcliffe, QLD (4020), as of July 2024:

• Houses – $800,000
• Units – $635,000

House and unit data provided by, https://www.realestate.com.au/qld/redcliffe-4020/

Overall, Redcliffe’s coastal lifestyle, good rental yield, and market growth make it a desirable investment location despite the challenges with public transport and employment opportunities.

5. Coorparoo – Total Score: 82/100

Coorparoo combines strong rental demand and excellent amenities but has higher median house prices and occasional traffic congestion.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 8/10
• Population Growth: 7/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Coorparoo is an inner-city suburb known for its vibrant community, excellent amenities, and strong rental demand.

The suburb’s rental yield is a healthy 4%, making it attractive for investors. Coorparoo’s market growth is robust, with house prices increasing by 8% over the past year. Public transport options are excellent, with frequent buses and trains. The local amenities, including Coorparoo Square and numerous parks, enhance its lifestyle appeal.

However, Coorparoo’s median house price is relatively high at around $1 million. Traffic congestion during peak hours can be an issue, affecting commute times. Additionally, while the population growth rate is steady at 2%, it is not among the highest in Brisbane.

Median prices for Coorparoo, QLD (4151), as of July 2024:

• Houses – $1,665,000
• Units – $620,000

House and unit data provided by, https://www.realestate.com.au/qld/coorparoo-4151/

In summary, Coorparoo’s strong rental demand, excellent amenities, and vibrant community make it a great investment option, though potential buyers must consider the higher median house prices and occasional traffic congestion.

4. Paddington – Total Score: 83/100

Paddington offers a trendy, inner-city lifestyle with excellent amenities but comes with higher median house prices and occasional traffic issues.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 8/10
• Population Growth: 8/10
• Quality of Schools: 9/10
• Community and Lifestyle: 9/10
• Median House Price: 5/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 10/10
• Rental Vacancy Rate: 9/10

Paddington is a trendy inner-city suburb known for its vibrant community, excellent amenities, and strong rental demand.

The suburb’s rental yield is a robust 4.2%, making it attractive for investors. Paddington’s market growth is strong, with house prices increasing by 9% over the past year. The local amenities, including boutique shops, cafes, and restaurants, add to the suburb’s appeal. Quality schools, such as Petrie Terrace State School, further enhance its desirability.

However, Paddington’s median house price is relatively high at around $1.1 million. Traffic congestion during peak hours can be an issue, affecting commute times. Additionally, while the population growth rate is steady at 2%, it is not among the highest in Brisbane.

Median prices for Paddington, QLD (4064), as of July 2024:

• Houses – $1,900,000
• Units – $700,000

House and unit data provided by, https://www.realestate.com.au/qld/paddington-4064/

In summary, Paddington’s trendy lifestyle, excellent amenities, and strong rental demand make it a desirable investment location despite the higher median house prices and occasional traffic congestion.

3. New Farm – Total Score: 84/100

New Farm combines a trendy lifestyle with strong rental demand but has higher median house prices and occasional traffic congestion.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 9/10
• Employment Opportunities: 9/10
• Population Growth: 8/10
• Quality of Schools: 9/10
• Community and Lifestyle: 9/10
• Median House Price: 4/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

New Farm is an inner-city suburb known for its trendy lifestyle, excellent amenities, and strong rental demand.

The suburb’s rental yield is an impressive 4.5%, making it highly attractive for investors. New Farm’s market growth is robust, with house prices increasing by 9% over the past year. The local amenities, including New Farm Park and numerous cafes, add to the suburb’s appeal. Quality schools, such as New Farm State School, further enhance its desirability.

However, New Farm’s median house price is relatively high at around $1.2 million. Traffic congestion during peak hours can be an issue, affecting commute times. Additionally, while the population growth rate is steady at 2.5%, it is not among the highest in Brisbane.

Median prices for New Farm, QLD (4005), as of July 2024:

• Houses – $2,800,000
• Units – $810,000

House and unit data provided by, https://www.realestate.com.au/qld/new-farm-4005/

In summary, New Farm’s trendy lifestyle, excellent amenities, and strong rental demand make it a desirable investment location despite the higher median house prices and occasional traffic congestion.

2. Sunnybank – Total Score: 86/100

Sunnybank offers strong rental demand and excellent amenities but faces challenges with traffic congestion and higher median house prices.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 9/10
• Employment Opportunities: 8/10
• Population Growth: 9/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 7/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 10/10

Sunnybank is known for its strong rental demand, excellent amenities, and vibrant community, making it a top investment choice.

The suburb’s rental yield is a healthy 4.2%, indicating steady demand for rental properties. Sunnybank’s market growth is strong, with house prices increasing by 8% over the past year. Local amenities, including Sunnybank Plaza and numerous parks, enhance its lifestyle appeal. The suburb’s population growth rate is a healthy 2.5%, showing consistent demand.

However, traffic congestion during peak hours can be a drawback, affecting commute times. The median house price of around $850,000 is higher than some other suburbs. Additionally, while public transport options are available, they could be more extensive to better serve its growing population.

Median prices for Sunnybank, QLD (4109), as of July 2024:

• Houses – $1,300,000
• Units – $622,500

House and unit data provided by, https://www.realestate.com.au/qld/sunnybank-4109/

In summary, Sunnybank’s strong rental demand, excellent amenities, and vibrant community make it a top investment choice despite the traffic congestion and higher median house prices.

1. Springfield Lakes – Total Score: 87/100

Springfield Lakes combines affordability with strong growth potential and excellent amenities but faces challenges with public transport and occasional traffic issues.

Scoring Criteria: 

• Market Growth: 9/10
• Rental Yield: 9/10
• Employment Opportunities: 8/10
• Population Growth: 9/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 9/10
• Public Transport and Infrastructure: 7/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 10/10

Springfield Lakes is a rapidly growing suburb known for its affordable housing, strong market growth, and vibrant community.

The suburb’s median house price is more affordable at approximately $700,000, making it accessible for a broader range of investors. Springfield Lakes’ market growth is impressive, with house prices increasing by 10% over the past year. Population growth stands at a healthy 3.5% annually, indicating strong demand. The local amenities, including Orion Springfield Central and numerous parks, add to the suburb’s appeal.

However, public transport options are somewhat limited, which can be a drawback for commuters. Traffic congestion is another issue, particularly during school drop-off and pick-up times. Additionally, while employment opportunities are available, they are not as abundant as in some inner-city suburbs.

Median prices for Springfield Lakes, QLD (4300), as of July 2024:

• Houses – $725,000
• Units – $544,500

House and unit data provided by, https://www.realestate.com.au/qld/springfield-lakes-4300/

In summary, Springfield Lakes offers strong growth potential and affordability, making it a compelling investment choice despite its public transport and traffic challenges.

How I Scored Each Suburb

Market Growth

Market growth measures the rate at which property values are increasing in a suburb. This is a crucial metric because it indicates the potential for capital appreciation, which is essential for long-term investment gains.

• A suburb scoring 1 – in market growth would show stagnant or declining property values, indicating low demand and minimal potential for appreciation. For example, a suburb like Logan Central, which has experienced minimal growth in property values recently. 
• Conversely, a suburb scoring 10 – in market growth would show a consistent and significant increase in property values, driven by high demand and strong market dynamics. For example, Rochedale has seen significant property value increases over the past few years.

Rental Yield

Rental yield refers to the annual rental income generated by a property as a percentage of its value. High rental yields indicate strong rental demand, which is crucial for generating steady income from an investment property.

• A suburb scoring 1 – in rental yield would have low rental income relative to property value, indicating weak rental demand. For example, a suburb like Woodridge, where rental yields are relatively low. 
• A suburb scoring 10 – in rental yield would have high rental income relative to property value, showing strong rental demand. For example, Fortitude Valley, known for its high rental yields due to demand from young professionals.

Employment Opportunities

Employment opportunities refer to the availability of jobs within or near the suburb. High employment opportunities attract residents and contribute to a suburb’s desirability and economic stability.

• A suburb scoring 1 – in employment opportunities would have limited job prospects, potentially leading to lower demand for housing. For example, a suburb like Russell Island, with fewer job opportunities. 
• A suburb scoring 10 – in employment opportunities would be near major employment hubs or have a thriving local job market. For example, South Brisbane, with its proximity to the CBD and numerous employment opportunities.

Population Growth

Population growth indicates the rate at which the number of residents in a suburb is increasing. High population growth often correlates with increased demand for housing and services.

• A suburb scoring 1 – in population growth would have a declining or stagnant population, indicating low demand. For example, a suburb like Wynnum, with slower population growth. 
• A suburb scoring 10 – in population growth would have a rapidly increasing population, indicating high demand. For example, the suburb of Pimpama, which has seen rapid population growth.

Quality of Schools

The quality of schools within or near a suburb is crucial for families and can significantly impact property values. High-quality schools attract families and contribute to a suburb’s desirability.

• A suburb scoring 1 – in the quality of schools would have poorly rated educational institutions. For example, a suburb like Eagleby, with lower-rated schools. 
• A suburb scoring 10 – in the quality of schools would have highly-rated schools that are well-regarded. For example, Indooroopilly, known for its top-rated schools.

Community and Lifestyle

Community and lifestyle refer to the overall liveability of a suburb, including the sense of community, recreational facilities, and overall quality of life.

• A suburb scoring 1 – in community and lifestyle would lack recreational facilities, have a poor sense of community, and low overall liveability. For example, Acacia Ridge, which has fewer lifestyle amenities, would score a 1.
• A suburb scoring 10 – in community and lifestyle would have a vibrant community, excellent recreational facilities, and high liveability. For example, Bulimba, known for its vibrant lifestyle and community events.

Median House Price

Median house price is the midpoint of house prices in a suburb. While not the sole determinant of investment potential, it provides insight into the affordability and market positioning of a suburb.

• A suburb scoring 1 – in median house price would be unaffordable or have prices disproportionate to the value provided. For example, Hamilton, with its very high median house prices.
• A suburb scoring 10 – in median house price would offer affordable housing relative to its value and potential for appreciation. For example, Springfield, with more affordable median house prices.

Public Transport and Infrastructure

Public transport and infrastructure refer to the availability and quality of transport options and essential infrastructure. High scores in this area indicate ease of commuting and well-developed infrastructure.

• A suburb scoring 1 – in public transport and infrastructure would have poor transport links and inadequate infrastructure. For example, Flagstone, with limited public transport options.
• A suburb scoring 10 – in public transport and infrastructure would have excellent transport links and well-developed infrastructure. For example, Bowen Hills, with its extensive public transport options.

Local Amenities

Local amenities include shopping, dining, healthcare, and recreational facilities. High scores indicate a wide range of amenities, enhancing the suburb’s liveability.

• A suburb scoring 1 – in local amenities would lack essential services and recreational options. For example, Bellbird Park, with fewer local amenities, would score a 1. 
• A suburb scoring 10 – in local amenities would have abundant and diverse services and recreational options. For example, Chermside, with its extensive amenities including a major shopping centre, would score a 10.

Rental Vacancy Rate

Rental vacancy rate refers to the percentage of available rental properties that are vacant. A low vacancy rate indicates strong rental demand, which is beneficial for investors.

• A suburb scoring 1 – in rental vacancy rate would have a high vacancy rate, indicating weak rental demand. For example, a suburb like Kingston, with higher vacancy rates. 
• A suburb scoring 10 – in rental vacancy rate would have a low vacancy rate, indicating strong rental demand. For example, Stones Corner, known for its low vacancy rates.

My Research: A Blend of Data and Local Insights

I visited each suburb personally, immersing myself in the local culture, speaking with residents, and experiencing the community vibe firsthand. I supplemented my visits with extensive research using various reliable sources. I scoured property market reports from CoreLogic and Real Estate Institute of Queensland (REIQ), analysing trends in property values, rental yields, and vacancy rates. For demographic data, I referenced the Australian Bureau of Statistics (ABS) to understand population growth and employment opportunities in each suburb. Additionally, I reviewed local council plans and infrastructure projects to gauge future growth potential.

Local news articles and community forums provided valuable insights into the day-to-day experiences and concerns of residents. Websites like Domain and realestate.com.au offered detailed property listings and market insights. I also reviewed school ratings from the My School Queensland government website and examined community amenities through Google Maps and TripAdvisor.

While visiting suburbs like Toowong and New Farm, I made it a point to experience the local cafes and restaurants. In Toowong, I enjoyed a coffee at the Corner Store Cafe, which is a popular spot among young professionals. Similarly, in New Farm, the bustling Merthyr Village offered a variety of dining options, like the renowned New Farm Deli & Cafe. These visits helped me gauge the lifestyle and community engagement in each suburb, adding depth to my research and ensuring that my recommendations were not only data-driven but also enriched by local experiences.

In Conclusion

Investing in the right suburb can make a significant difference in the return on your property investment. After thorough research and firsthand experience, the top 10 suburbs to invest in across Queensland in 2024 have been identified and listed below:

1. Springfield Lakes – Total Score: 87/100
2. Sunnybank – Total Score: 86/100
3. New Farm – Total Score: 84/100
4. Paddington – Total Score: 83/100
5. Coorparoo – Total Score: 82/100
6. Redcliffe – Total Score: 81/100
7. North Lakes – Total Score: 80/100
8. Carindale – Total Score: 78/100
9. Ashgrove – Total Score: 77/100
10. Toowong – Total Score: 75/100

Each of these suburbs offers unique advantages, from strong rental yields and market growth to excellent amenities and community lifestyle. Springfield Lakes, with its affordable housing and rapid population growth, provides a compelling investment opportunity. Sunnybank’s vibrant community and excellent rental yield make it a top contender, while New Farm’s trendy lifestyle and high rental demand ensure its desirability. Paddington and Coorparoo boast strong community ties and excellent local amenities, attracting families and young professionals alike. Redcliffe’s coastal lifestyle and market growth potential, North Lakes‘ affordability and robust growth, Carindale’s excellent amenities, and Ashgrove’s family-friendly environment all present strong investment options. Lastly, Toowong’s excellent public transport and high rental demand secure its position as a desirable investment suburb.

Navigating the property market to find the right investment can be complex, requiring market knowledge, local insights, and strategic planning. If you need assistance identifying the best opportunities, consider using a professional residential buyer’s agent. A buyer’s agent can provide expert advice, personalised service, and comprehensive support to help you find a property that aligns with your investment goals, ensuring you make the most beneficial decision possible.

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