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Australia’s top 20 suburbs for property investment revealed
NSW has the most investment opportunities, according to ME Bank, but a Brisbane suburb has taken out the top spot.
Australia’s top 20 suburbs for property investment revealed
NSW has the most investment opportunities, according to ME Bank, but a Brisbane suburb has taken out the top spot.
Woolloongabba in Brisbane’s inner east has been named Australia’s best suburb for residential property investment by ME Bank.
National urban development consultancy Ethos Urban was commissioned by ME Bank to determine the top 20 suburbs for investment.
The firm took into account the impact of new transport infrastructure, average rental yields, recent population growth, median house prices, average rental prices and lifestyle appeal.
Along with Woolloongabba in the top spot, Queensland also took out second place with the Gold Coast’s Burleigh Heads and held a total of five of the top 20 positions.
Ethos Urban director Chris McNeill said that the list demonstrated the huge impact of new transport infrastructure on creating investment opportunities.
“Queensland’s investment in both Woolloongabba and the Gold Coast has been key,” he said.
“The new Cross City Rail and the Burleigh Heads Light Rail will turbo charge value along the picturesque coast line of the Gold Coast, adding to its already valuable apartment living and growing retail focus, creating greater connectivity to both the Coolangatta (including airport) and Surfers Paradise for the three Gold Coast suburbs of Burleigh Heads, Mermaid Beach and Miami.”
NSW held nine spots in the top 20, with Five Dock and Rozelle in Sydney’s inner west cracking the top five on the back of key infrastructure projects.
“Five Dock, Rozelle, Parramatta, Pyrmont and Concord will significantly benefit from the high-speed, high-frequency metro line connecting them to the Sydney CBD,” said Mr McNeill.
“This adds to their appeal for investors following recent growth in rental prices, median house prices and change in white-collar workers.”
The Victorian suburbs of North Melbourne, Preston and South Melbourne all ranked in the top ten, benefiting from projects such as the North Melbourne underground, the removal of level crossings and the Melbourne Metro upgrade.
Three suburbs in Western Australia ranked in the top 20, but no other states were present in ME Bank’s list.
“While the ACT, South Australia, Tasmania and Northern Territory had no entries in the top 20, this doesn’t suggest they are lacking in favourable investment options,” said Mr McNeil.
“Based on the statistical approach and methodology applied, it is simply that the most impactful transport projects presently being undertaken are in New South Wales, Victoria, Queensland and Western Australia.”
The full list is available below:
1. Woolloongabba, QLD
2. Burleigh Heads, QLD
3. Five Dock, NSW
4. North Melbourne, VIC
5. Rozelle, NSW
6. Ellenbrook, WA
7. Parramatta, NSW
8. Crows Nest, NSW
9. Preston, VIC
10. South Melbourne, VIC
11. Yanchep, WA
12. Waterloo, NSW
13. Coffs Harbour, NSW
14. North Sydney, NSW
15. Pyrmont, NSW
16. Claremont, WA
17. Mermaid Beach, QLD
18. Miami, QLD
19. Concord, NSW
20. Fairfield, QLD
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