Brisbane has been one of the top-performing capitals in the last year, as its relatively COVID-free and lockdown-free lifestyle attracted households from southern states. Data from Domain found it was now more expensive to rent a unit in Brisbane than in Melbourne, for the first time in five years. Economists have forecast growth of anywhere from 3-10% in 2021 in the Sunshine State capital. We detail the 10 best suburbs to buy in for high capital growth:
Situated just outside the CBD, Toowong’s proximity to high-end schools, The University of Queensland, and a multitude of transport options, make it a winner. Close to the Brisbane River and the heart of the city, Toowong saw growth of 12.1% in 2020 and has a median house price of $939,000 and an annual rental yield of 3.2%.
Manly is 20 minutes from the Brisbane CBD, located on the coastline, boasting a charming seaside atmosphere that offers a great work-life balance. Manly has seen exponential in the last three years, seeing a growth of 14.2%. It has a median house price of $966,000 and an annual rental yield of 3.02%.
Camp Hill is a popular suburb for families, given it is only 6 kilometres from the Brisbane CBD and is in the catchment zone for several popular high-end schools. The suburb has seen a consistent growth rate of 4.1% in the last five years, has a median house price of $908,000, and an annual rental yield of 3.1%.
After added infrastructure to the area in recent years, Coorparoo now has easy access to the six-kilometre away CBD, with multiple vehicle and public transport options available. Desirable schools and popular cafe and restaurants scenes make it a favourite for families. It has a median house price of $945,000 and an average annual rental yield of 2.9%.
Mount Gravatt is an ideal pick for those who base themselves on the Southside. Situated only 10 kilometres south of the CBD, Mount Gravatt has excellent education facilities, a large shopping centre, and great public transport options. It has a median house price of $670,000 and an average annual rental yield of 3.45%.
Mango Hill is a rapidly growing suburb and is just a 30 minute drive north of Brisbane. The suburb is home to a massive shopping complex and has close proximity to waterways and the beach. The median house price is a bargain $545,000 and sports an excellent average annual rental yield of 4.2%.
Popular among young professionals, Newstead is a bustling inner-city suburb, just 3 kilometres from the CBD. A growing nightlife and cafe scene, in addition to proximity to education facilities, makes it attractive to a wide range of people. Newstead has very few houses in the suburb, instead, boasting numerous unit complexes. The median unit price is $630,000 and the average annual rental yield is 4.06%.
Keperra is popular among health professionals and has seen solid growth in the past 5 years, 5% above the Brisbane average. Located 9 kilometres north-west of the CBD, this leafy family-orientated suburb has an easy run into the city sitting on a train line, as well as a bowls club and golf course. The median house price is a low $566,000 and the average annual rental yield is 4.04%.
Cannon Hill has seen around 30% growth in the last five years and benefits from proximity to the Brisbane Airport. Situated 10 kilometres east of the CBD, the suburb boasts large blocks, perfect for families. Additionally, for families, Cannon Hill has a number of good schools and access to public transport facilities. The median house price is $800,000 and the average annual rental yield is 3.6%.
Chermside West has been undergoing gentrification in recent years, as the CBD has expanded and young professionals move into the area, targeting popular schools. Only 3 kilometres from the city, the suburb has multiple train and bus options available. The median house price is $630,500 and the average annual rental yield is 3.9%.
Tips for first and second home buyers
If you already own a home and want to buy in one of these Brisbane suburbs, consider refinancing with us. We’re currently offering a one-year discount variable rate of 1.99% p.a. (2.47% p.a. comparison rate) when you refinance with us now. Check out how much you could save by refinancing with our calculator here.
If you’re a first home buyer, buying in an area with capital growth is important, but also consider your proximity to facilities you may need, like access to work, schools, shops, and hospitals. To see how much you could borrow with us to buy your first home, use our borrowing capacity calculator.
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