Affordable Suburbs for Property Investment
Breaking into the property market is easier said than done. With continuously soaring real estate prices, it’s getting more and more difficult to invest in properties. The good news is there are plenty of affordable suburbs in Australia that offer great investment opportunities.
We’ve compiled a list of emerging local markets that have shown impressive growth these past 12 months. The data comes from the latest RealEstate.com.au real estate reports. Consider these top 10 suburbs for your next investment property:
Northern, SA 5422
Median house price: $142,000
Median house rental price: $250 per week
Peterborough has seen 31.5% growth in house prices this past 12 months. It has one of the lowest median house prices in the country. This suburb may be cheap now, but it could steadily become a premier area for those looking for a rural property.
This suburb offers residents a quiet countryside lifestyle while having access to city comforts. It’s located three hours from Adelaide and is found on the heritage rail trail spanning from Broken Hill to Port Pirie.
West Coast, TAS 7469
Median house price: $217,000
Median house rental price: $340 per week
Zeehan is another quaint town that’s 139 kilometres away from Burnie. In the most recent Your Investment Property Magazine report, this suburb has an estimated rental yield of 9.44% as of June 2023. This could be a boon for novice investors or those looking to expand their portfolios.
In the past 12 months, the median prices and rental prices for houses have increased exponentially to 32.3% and 41.7% respectively. Zeehan is also surrounded by former mining towns such as Dundas, Roseberry, and Queenstown.
Whyalla City - Greater Region, SA 5600
Median house price: $320,000
Median house rental price: $365 per week
Median unit price: $168,500
Median unit rental price: $250 per week
Whyalla is one of the most promising suburbs on this list. For the past 12 months, Whyalla had limited growth in terms of house prices (only 2%). However, the median rent prices have increased significantly by 25.9%. When it comes to units, median prices are up by 13.5% and median rental prices have increased by 9.9%.
In recent years, Whyalla has put forth various improvements such as an airport worth $12 million, a $100-million state-of-the-art Whyalla Secondary College, and has enhanced its lifestyle attraction with a circular jetty. With these projects, this suburb could be an up-and-coming neighbourhood soon.
South East Perth, WA 6112
Median house price: $342,500
Median house rental price: $405 per week
Median unit price: $293,000
Median unit rental price: $400 per week
Armadale is found 30 kilometres southeast of Perth, less than an hour away. It's an ideal location for those who want to live close to the city but don’t want the hustle and bustle that comes with it. Investors can take advantage of the low property prices and booming local market.
The median house price increased by 13.2% while the median house rental price increased by 15.7%. The unit prices follow the same growth with median unit prices increasing by 8.9% and rental prices increasing by 17.6%. It may be best to get in as early as possible and take advantage of the low house and unit prices while yielding higher rental income in the future.
Central Queensland - Region, QLD 4720
Median house price: $350,000
Median house rental price: $420 per week
Median unit price: $195,000
Median unit rental price: $330 per week
Emerald could be a great rural location for your next property investment. This thriving rural area is the major regional centre of the Central Highlands. It’s also considered the gateway to the Central Western District.
Unit prices are among the most affordable in the country while unit rental prices have grown steadily for the past 12 months (up by 6.5%). Savvy property investors could really make the most out of the steadily rising market of this suburb.
Adelaide - Greater Region, SA 5115
Median house price: $386,111
Median house rental price: $430 per week
Munno Para is an ideal location for homebuyers who want peace and quiet with the perks of modern living. This suburb is sought-after for its green spaces, parks, and variety of amenities. It’s also located only 28 kilometres away from the Adelaide CBD.
In terms of growth, house prices and rent have increased by 11.6% and an impressive 22.9% respectively. Investors may be interested in the suburb’s prime location and continued growth in the area.
Darling Downs, QLD 4350
Median house price: $508,500
Median house rental price: $440 per week
Median unit price: $328,500
Median unit rental price: $350 per week
Darling Heights is one of the best places for rental property. Due to its proximity to the University of Southern Queensland campus and the CBD, this suburb holds a considerable potential market. You can see it reflected in the numbers too. Median house rental prices went up by 10% and median unit or apartment rental prices grew by 12.9%.
Aside from renters, this suburb can be great for first-time home buyers. Investors could reap the benefits of increasing real estate and rental prices if they act quickly and strategically.
Western Region, VIC 3356
Median house price: $532,500
Median house rental price: $420 per week
Delacombe is an emerging suburb undergoing significant improvements. Thanks to the ambitious Delacombe master plan worth $50 million headed by the state government, a lot of improvements to housing and public spaces can be expected.
In the past 12 months, the suburb experienced a decline in median housing prices. However, median rental prices have gone up by 7.7%. For property investors, this suburb could be among the ones to watch in the coming months or years.
Northern Queensland - Region, QLD 4811
Median house price: $544,000
Median house rental price: $550 per week
Median unit price: $270,500
Median unit rental price: $410 per week
Idalia is a wonderful suburb only 10 minutes away from the Townsville CBD. Living here means getting the best of both worlds. Close enough to the city to get all your creature comforts while far enough away to enjoy a more relaxed ambience.
This suburb has plenty of options for property investors. You’ll find almost everything from single-family homes to luxury abodes, from small rental units to condos with waterside views.
Logan City - Region, QLD 4132
Median house price: $529,000
Median house rental price: $472 per week
Median unit price: $360,000
Median unit rental price: $420 per week
Found in the growing City of Logan, the Crestmead suburb offers property investors plenty of opportunities to expand their portfolios. The potential rental yield in the area could see an increase as the median rental prices for both houses and units have gone up. Median house rental prices surged by 15.2% while rental prices for units went up by 20.0%.
What makes Crestmead a truly great potential investment location is its proximity to other cities. It’s close to both Brisbane and the Gold Coast. It’s also accessible as it’s near the Logan Motorway and Gateway Motorway interchanges.
Ready to invest in one of these great suburbs?
About the article
As Australia's leading online lender, loans.com.au has been helping people into their dream homes and cars for more than 10 years. Our content is written and reviewed by experienced financial experts. The information we provide is general in nature and does not take into account your personal objectives or needs. If you'd like to chat to one of our lending specialists about a home or car loan, contact us on Live Chat or by calling 13 10 90.