Finding the correct city to invest in real estate can feel like searching for a needle in a haystack.
With Australia’s dynamic property market, knowing where to place your bets can make all the difference.
This guide, backed by data and expert insights, breaks down the best cities for real estate investment in 2024.
It will help you invest with confidence and maximize your returns.
Cities for Real Estate Investment in Australia
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| Why Invest in Australian Real Estate?
Best Cities for Real Estate Investment in Australia |
Australia’s real estate market has established itself as a global hotspot. It is renowned for its stability, long-term growth, and high demand from local and international investors.
Over the past 30 years, national dwelling values have surged by an impressive 382%, with an annual growth rate of 5.4%.
Experts predict capital city house prices in 2024 could rise by 5–7%, driven by strong population growth and significant infrastructure projects.
| National dwelling values | 382% |
| Annual growth rate | 5.4% |
| Capital City house price prediction | 5–7% |
Source: Star Investment Group Australia
Sydney continues to dominate Australia’s property market due to its thriving economy, diverse culture, and iconic lifestyle.
As a prime investment hub, it offers a blend of strong economic growth, high housing demand, and long-term property value appreciation.
| Metric | Houses | Units |
| Median Price | AUD 1,627,625 | AUD 806,137 |
| Median Weekly Rent | AUD 745 | AUD 692 |
| Rental Yield | 2.9% | 4.8% |
| Annual Population Growth | 2.8% | - |
Source: Liviti
| Suburb | Median Price (House/Unit) | Growth (12 Months, House/Unit) | Rental Yield | Highlights |
| Manly | AUD 4,410,000 / AUD 1,772,500 | 0.2% / 9.4% | 2.2% / 3.0% | Coastal lifestyle, strong unit growth. |
| Parramatta | AUD 1,600,000 / AUD 625,000 | 8.7% / 0.6% | 2.2% / 5.5% | Western Sydney's economic hub with high growth. |
Source: Liviti
Renowned for its cultural diversity and livability, Melbourne combines vibrant lifestyle opportunities with significant property growth potential.
The city’s economic diversity and infrastructure projects make it a lucrative hub for real estate investments.
| Metric | Houses | Units |
| Median Price | AUD 1,032,020 | AUD 564,095 |
| Median Weekly Rent | AUD 745 | AUD 559 |
| Rental Yield | 3.0% | 4.9% |
| Annual Population Growth | 3.3% | - |
Source: Liviti
| Suburb | Median Price (House/Unit) | Growth (12 Months, House/Unit) | Rental Yield (House/Unit) | Highlights |
| Carlton | AUD 1,410,000 / AUD 409,000 | -0.9% / 6.1% | 2.9% / 7.4% | Cultural and educational hub with high yields. |
| Richmond | 1,380,000 / 582,000 | -2.8% / 2.1% | 3.3% / 5.7% | Trendy and diverse, appealing to young professionals. |
| South Yarra | AUD 2,150,000 / AUD 540,000 | -4.0% / -7.7% | 2.8% / 5.8% | Upscale suburb with steady unit growth. |
Source: Liviti
Brisbane is rapidly emerging as Australia’s next big real estate frontier thanks to its affordability, ongoing development, and infrastructure investments.
The city’s strong population growth and urban renewal projects make it an attractive choice for property investors.
| Metric | Houses | Units |
| Median Price | AUD 924,498 | AUD 549,704 |
| Median Weekly Rent | AUD 723 | AUD 572 |
| Rental Yield | 3.6% | 4.8% |
| Annual Population Growth | 3.1% | - |
Source: Liviti
| Suburb | Median Price (House/Unit) | Growth (12 Months, House/Unit) | Rental Yield (House/Unit) | Highlights |
| Fortitude Valley | Not available / AUD 500,000 | Not available / 16.3% | 1.4% / 6.4% | Urban renewal hotspot with strong unit growth. |
| South Brisbane | AUD 1,637,500 / AUD 620,000 | 13.2% / 14.8% | 2.4% / 6.0% | Undergoing urban renewal, appealing lifestyle. |
Source: Liviti
Perth combines affordability with strong capital growth potential, making it a promising destination for real estate investors.
Its economic revival, driven by the resource sector and infrastructure projects, contributes to its appeal.
| Metric | Houses | Units |
| Median Price | AUD 777,921 | AUD 425,638 |
| Median Weekly Rent | AUD 780 | AUD 613 |
| Rental Yield | 3.9% | 5.9% |
| Annual Population Growth | 3.6 | - |
Source: Liviti
| Suburb | Median Price (House/Unit) | Growth (12 Months, House/Unit) | Rental Yield (House/Unit) | Highlights |
| Subiaco | AUD 1,800,000 / AUD 598,500 | 19.9% / 12.9% | 3.4% / 5.9% | Upscale area with strong rental demand. |
| Mount Lawley | AUD 1,588,000 / AUD 448,750 | 32.3% / 15.1% | 3.4% / 6.5% | Vibrant suburb with high growth and appeal. |
| Fremantle | $1,029,373 / 408,385 | 15.9% / 9.4% | 3.91% / 7.77% | Emerging growth area with strong rental demand. |
Source: Liviti
Adelaide has emerged as a cost-effective and high-potential city for property investment.
Known for its affordability, stable property market, and thriving economy, the city is an excellent choice for investors seeking a balance between affordability and growth.
| Metric | Houses | Units |
| Median Price | AUD 902,332 | AUD 489,557 |
| Median Weekly Rent | AUD 662 | AUD 499 |
| Rental Yield | 3.9% | 5.7% |
| Annual Population Growth | 2% | - |
Source: Liviti
Australia’s regional markets are gaining popularity, offering affordability, strong rental yields, and the potential for significant capital growth.
Here are the top regional hotspots for 2024.
| Suburb | Median Price (House/Unit) | Weekly Rent (House/Unit) | Growth (12 Months, House/Unit) | Rental Yield (House/Unit) | Highlights |
| Newcastle, NSW | AUD 1,862,500 / AUD 1,800,000 | AUD 700 / AUD 650 | -30.1% / 26.3% | 2.4% / 4.1% | Coastal charm with hotspots like Merewether and Cooks Hill showing strong demand. |
| Wollongong, NSW | 1,092,500 / 708,250 | 665 / 550 | -11.7% / -0.2% | 2.9% / 4.2% | Coastal beauty paired with ongoing economic development. |
| Geelong, VIC | 935,000 / 620,000 | 532 / 500 | – 1.6% / – 13.3% | 3.2% / 4.3% | Waterfront location supported by key infrastructure projects. |
| Bunbury, WA | AUD 833,500 / AUD 450,000 | AUD 620 / AUD 550 | 26.3% / 2.9% | 4.4% / 6.7% | Emerging investment choice due to affordability and development projects. |
| Geraldton, WA | 394,000 / 274,500 | 457 / 280 | 21.2% / 16.8% | 6.3% / 8.2% | Affordable prices with high rental yields and growth potential. |
Source: Liviti
Australia’s property market in 2024 offers a wealth of opportunities, from metropolitan powerhouses like Sydney and Melbourne to emerging regional gems like Bunbury, Newcastle, and Geraldton.
You can unlock significant capital growth and rental income potential by aligning your investment goals with market trends.
Start your investment journey today with insights that empower your decisions and pave the way for a prosperous future!
Start your investment journey in Australia today—invest in Australia’s booming property market for unbeatable growth! Contact us now and find your dream house in Australia.
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