Top 10 Property Investment Growth Locations in Australia for 2023

Are you looking for the best property investment opportunities in Australia? Look no further! We have compiled a list of the top 10 suburbs and towns tipped for growth in 2023. These locations offer a combination of affordability, proximity to desirable features, and solid prospects for capital growth. Let's dive into the details.

Top 10 growth locations in australia

Annerley (Units), Queensland



Located in inner Brisbane, Annerley is well-situated near the Gabba, the main venue for the 2032 Olympics. With its proximity to major hospitals, the University of Queensland, the Pacific Motorway, and commuter rail, Annerley offers affordable units as an investment option.New Paragraph

Eaglehawk, Victoria 

Bendigo, a dependable market in Australia, has consistently shown good growth year after year. Eaglehawk, a suburb of Bendigo, offers amenities, houses in the $400,000s and $500,000s, a strong growth record, and very low vacancies. It benefits from good transport links to Melbourne.

Geraldton, Western Australia



Geraldton, an attractive coastal city in Western Australia, has seen a rise in prospects fueled by the "Exodus to Affordable Lifestyle" trend and new infrastructure proposals. Geraldton is a promising investment option with a median price in the low $300,000s, yields above 6%, and very low vacancies.

Munno Para, South Australia

The City of Playford in South Australia is experiencing rising sales, and affordability and proximity to major employment zones drive demand. Munno Para and Munno Para West have seen a tripling in the rate of sales over the past two years. With prices still in the mid-$300,000s, this northern Adelaide precinct offers rail and motorway connectivity, shopping, schools, and a golf course.

Murray Bridge, South Australia



Murray Bridge provides an attractive alternative for those seeking affordability beyond the Greater Adelaide area. This riverside town has a vibrant economy, notable local businesses, and houses in the low $300,000s. It offers a more affordable option than suburbs like Stirling and Aldgate in the Adelaide Hills precinct.

Muswellbrook, New South Wales



The Hunter Region in New South Wales has seen impressive price growth in the past two years due to its strong economy, hill-change lifestyle, and proximity to Newcastle. While most towns in the region have prices above $500,000, Muswellbrook remains an affordable oasis with a median price of $440,000, a vacancy rate of 0.6%, and a median yield of 5.1%.

New Norfolk, Tasmania


As Hobart's prices have become comparable to those in Brisbane, New Norfolk, a town on the fringe of the Hobart metropolitan area, offers an affordable alternative. New Norfolk provides an attractive investment option with a rich pioneer heritage, modern amenities, and house prices in the $400,000s.

South Toowoomba, Queensland

With rising sales activity in most suburbs, Toowoomba's local economy is strong and diverse. South Toowoomba, in particular, stands out due to its attractive low prices, big infrastructure projects, and highly sought-after rental properties. Situated beside the city centre and featuring the Toowoomba Hospital, schools, and significant retail, South Toowoomba offers houses in the $400,000s, vacancies at 0.3%, and rising rents.

Sunbury, Victoria


Sunbury, an outer north-western suburb of Greater Melbourne, boasts a substantial population and the facilities of a small city. With a major shopping centre, a train station on the Melbourne-Bendigo

Wollongong, NSW


The Wollongong property market experienced exceptional growth in 2018, driven by a robust local economy, education, and tourism. The high prices in Sydney have also attracted many people to the region. The strong demand for rental accommodation, particularly from the education sector, keeps vacancy rates low. Suburbs like Fairy Meadow, Wollongong CBD, North Wollongong, Keiraville, and West Wollongong are worth considering, conveniently connected by Wollongong's free bus loop, which is popular among university students.