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Best Suburbs to Invest in Brisbane 2024

Industry News 01 Jan 2024
Brisbane city skyline

Brisbane’s real estate market continues to show promise in 2023, but the question at the forefront of buyers’ minds is which suburbs are ripe for investment?

CoreLogic’s latest Hedonic Home Value Index, released on August 1, reveals that the Brisbane property market has been on a promising trajectory, recording a 6.2% growth. This growth rate positions Brisbane as a city to watch in Australia’s property landscape.

The Brisbane median dwelling value now stands at $735,394, with houses at a median of $819,832 and units at $520,346.

While the market had a flat patch earlier in the year, the recovery phase is evident with several month-on-month increases in median property prices.

The upcoming 2032 Olympics in Brisbane is expected to further boost the city’s global appeal, coupled with its unique lifestyle and economic benefits. With Queensland’s population projected to grow by over 16% by the Olympics, the long-term outlook for Brisbane’s property market remains positive.

So, here are six Brisbane suburbs to watch if you’re pondering the possibility of making an investment this year.


Located 34km north of the Brisbane CBD in the Moreton Bay region, Narangba has become a haven for families with a residential renaissance from its rural roots.

Satterley’s Ridgeview community is a favourite amongst families, with a 5000sqm central park, playgrounds and outdoor gym equipment; and close proximity to Narangba train station.

As one of the fastest-growing suburbs, Naranga has also been earmarked as part of a local development urban growth corridor under the South East Queensland Regional Plan 2009-2031, which will see greater local infrastructure.

Data from indicates that median property prices over the last year range from $727,500 for houses to $420,000 for units.

On the investment front, rental returns have gathered momentum in recent years. Houses are generally tenanted for $560 a week with an annual rent yield of 4.3%.

View land for sale in Narangba

Ridgeview, Narangba entrance statement.

Ridgeview, Narangba entrance into the community.


In recent years, Chermside West has gentrified and is now a significant competitor to its neighbor, Chermside.

Just 10km from Brisbane, Chermside West is an attractive investment proposition with its close proximity to retail and business hubs as well as the Westfield Chermside shopping centre.

The suburb also hosts the Chermside Hills Reserves, which span more than 129ha of parklands, nature reserves as well as walking and bike trails; and is the catchment for the desirable Craigslea School.

Data from shows median property prices over the last year at $850,000 for houses and $619,000 for units.

As an investment proposition, houses in Chermside West rent for $600 a week, a 9.1% increase from the previous year, with an annual rental yield of 3.8%.


Ripley, 43km south-west of Brisbane and just 6km from Ipswich, is part of the city’s western growth expansion and is set to become one of Australia’s biggest urban growth areas.

The Queensland Government expects Ripley’s population to see a boost of more than 120,000 with plans for an additional 50,000 residential dwellings to the town.

This includes Satterley’s Ripley Valley masterplanned community, which has its first stage of the $1.5 billion development open just two minutes’ drive from the Ripley Town Centre.

In addition, the Ripley Valley Priority Development Area is offering opportunities for residential growth and is largely favoured by first homeowners and young families.

Data from shows house prices have been tracking upwards by 12.2% in the past year with a median price of $620,000. Median weekly rents are sitting at $510 per week for an annual rental yield of 4.6%..

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Ripley Valley, Ripley walkway in local park.

Ripley Valley, Ripley walkway in local park.


With a reputation as being ‘value for money’, Cannon Hill, 10km east of Brisbane, has proven popular with young families as a place to call home as well as an investment opportunity.

With its close proximity to the Gateway Motorway and Brisbane Airport and reputation as an easily accessible, central location it’s easy to see why it’s piquing interest with buyers. figures show median property prices over the last year range from $1.13 million for houses and $530,000 for units.

The market is also a lucrative earner for investors with houses renting for $650 a week with an annual rental yield of 3.3% and units for $550 with a rental yield of 5.1%.


Further afield, the suburb of Smithfield near Cairns is drawing attention for its affordable housing, with more and more people realising its allure.

The suburb is home to Satterley’s Smithfield Village, just 15km from the centre of Cairns and short drives to idyllic Palm Cove and Trinity Beach. It has established public transport, a campus of James Cook University, retail and major infrastructure projects, including the newly opened $164 million Smithfield Bypass-Captain Cook Highway.

According to, median property prices in the past year range from $635,000 for houses to $325,000 for units.

Overall, Smithfield houses rent for $600 a week with an annual rental yield of 5.3%.

Based on five years of sales, Smithfield has seen a compound growth rate of 11.2% for houses and 2.4% for units, data from shows.

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Smithfield Village, Smithfield built house and land.

Street in Smithfield Village


Popular with first homebuyers, Nundah, near Chermside, is an affordable and commutable location that has slowly gentrified over the past decade or so.

The suburb, favoured by young singles in the 20-39 age bracket, is a melting pot of largely mixed-density residential with some light industry and a commercial retail area on Sandgate Road.

Data from shows median property prices over the last year have ranged from $1,100,000 for houses to $465,000 for units.

Investors looking to rent could find a profitable investment in Nundah, with houses renting for $622 a week with an annual rental yield of 3.2%, while units rent for $480 a week with a yield of 5.5%.