10 Australian Suburbs with Strong Capital Growth & High Rental Yields in 2024
Finding the right suburb to invest in can make all the difference in your property journey. Recent insights from Washington Brown, featured in Hotspotting’s The Pulse report, have spotlighted ten Australian suburbs that have shown impressive capital growth and attractive rental yields over the past year. These areas are gaining attention from savvy investors looking for solid returns.
The Top Performing Suburbs
These ten suburbs have recorded impressive growth:
These suburbs are currently among the top choices for investors looking to capitalize on solid growth and attractive rental yields.
Perth Suburbs Leading the Charge
Perth has been a standout performer, with several suburbs experiencing significant growth. Hillman tops the list, with an incredible 40% increase in median house prices, now at $530,000. This surge reflects the high demand and limited supply that have characterised Perth’s property market in the last 12 months.
Armadale, another suburb in Perth, has seen a 35% jump in median home values, now at $460,000. This area has become increasingly popular with investors due to its affordability and strong growth prospects. Similarly, Balga in the City of Stirling has delivered remarkable results, with a 26% rise in house prices and rental rates. Those who invested in Balga last year are now seeing substantial returns.
Orelia, also in Perth, recorded a 33% rise in property values, while Withers, located in the Bunbury region, saw a 30% increase. Withers is particularly noteworthy for its high rental yields, exceeding 7% and rising rents by 21% over the past year. The affordability of properties in Withers, with median prices still under $400,000, makes it an appealing option for investors.
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Regional Hotspots in NSW and QLD
Moving away from Perth, regional areas are also showing promising growth. Moree in New South Wales has experienced a 35% rise in median house prices, now at $330,000. This growth has been fueled by the construction of Australia’s largest infrastructure project, the $35 billion Inland Rail Link, which has attracted significant regional investment.
In Queensland, Oakey has emerged as a strong performer with a 24% increase in house prices, reaching $368,000. The town’s strategic location and the growing interest from homebuyers and investors have driven this growth.
Adelaide’s Rising Suburbs
The northern suburbs of Adelaide are also catching the eye of investors. Munno Para has seen a 28% rise in property values, with median house prices now at $495,000. This suburb has also witnessed an 18% increase in rental rates and a meagre vacancy rate of just 0.4%, making it an attractive option for those looking to invest.
Elizabeth East, another suburb in Adelaide’s north, has shown a 26% increase in property values, now at $478,000. The area’s affordability and proximity to major employment hubs have made it popular among first-home buyers, investors, and tenants.
The Takeaway
Australia’s property market continues to offer lucrative opportunities, especially in suburbs with solid capital growth and high rental yields. Some areas where investors find significant returns are Hillman, Armadale, and Moree.
As the market evolves, these suburbs are likely to remain in demand. Whether you’re a seasoned investor or new to the market, understanding these high-growth areas can help you make better decisions and maximise your returns.
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