10 best suburbs to invest in Brisbane in 2023

10 best suburbs to invest in Brisbane in 2023

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Hopefully, your world will slow down a little soon, even if it is just for a few days.

The end of the year and the start of a new one is often a time for reflection and planning.  It is also a great time to do some research on property markets and think about getting either your first investment property or adding to your existing portfolio.

Each year researchers Canstar release their Rising Stars Property Market report, which is developed by Terry Rider, probably Australia’s leading property researcher.

This report outlines the suburbs that they believe may be the best to invest in for 2023 on beyond.  Here is a little insight into the report…

Don’t forget to visit Property Investment Services where you will find a local property manager who can help you to find a rental property suited to your needs.

The Brisbane market is considered to be in the doldrums but in-depth analysis shows that the Brisbane market currently is stronger than the general media rhetoric.

What are the up-and-coming new suburbs of Brisbane?

After being a nation-leading growth market in 2021 the Brisbane market declined overall early in 2022, damaged by major weather events and by state government legislation which deterred investors.

But the downturn was not felt across all markets – the affordable outer-ring areas of the Greater Brisbane area and the near-city apartment suburbs have continued to deliver high levels of buyer demand.

In the next 12 months, Brisbane is likely to produce growth numbers boosted by internal migration and major infrastructure projects, with the 2032 Olympics a beacon for investment.

The elephant in the room was the new land tax policy which was causing investors to avoid Queensland, even though it was not scheduled to start until mid-2023. But after growing criticism of the policy, including from other state governments, Queensland Premier Annastacia Palaszczuk announced she was scrapping the measure.

The 10 best suburbs in Brisbane to invest in

  • Annerley (Units) 
  • Caboolture
  • Dakabin
  • Deception Bay 
  • Eagleby 
  • Eastern Heights 
  • Edens Landing 
  • Kangaroo Point (Units) 
  • Redbank Plains 
  • West End (Units) 

The common feature of the markets which populate our Brisbane Top 10 is median prices below $600,000. This is in keeping with national trends, where affordable areas with good amenities and lifestyle features are continuing to attract strong buyer demand.

Brisbane may have struggled as a market in the first half of 2022, but the future is positive for the city’s growth suburbs.

Annerley (Units)

The research indicates suburbs close to the big sporting venues get the biggest boost from an Olympic Games, so Annerley is well situated not far from the Gabba. It’s also handy to one of Brisbane’s major hospitals, the University of Queensland, the Pacific Motorway and commuter rail. Houses are becoming expensive but units (with a median price of $460,000) are an affordable option.


This is a key hub suburb in Brisbane’s far north. It’s not fashionable but always attracts buyer demand because it has the basic infrastructure and affordability that matters most to many people. Its low vacancy rate, currently just 0.3%, and high capital growth rate (at 8% a year on average over the past 10 years it’s one of the best in Brisbane) demonstrate that apparently boring bread-and-butter locations can be outperformers.


This northern suburb offers plenty for not much money: three schools, lots of recreation features including a golf course, easy access to the Bruce Highway and one train stop from the new Sunshine Coast University campus. This explains 30% price growth in a year and very low vacancies, currently at 0.4%. Despite the recent uplift, the median house price remains below $600,000.

Deception Bay

This downmarket bayside suburb is working to cast off its daggy image, book-ended by the Moreton Bay Marine Park and the North Lakes master-planned community. While Brisbane’s market overall has eased, sales activity here is still rising and prices have responded, with one-year growth among the highest in Brisbane. With vacancies at 0.4%, rents have jumped 15% in the past year.


Logan City has been one of the stars of Brisbane’s stellar 2020-2021 growth and, while Brisbane overall has faded somewhat since the start of 2022, Logan City between the Gold Coast and central Brisbane is still attracting lots of buyers. For Eagleby, a handy location, good basic amenities and affordability are a sexy combination, even if the suburb isn’t. The intersection of the Pacific and Logan Motorways is nearby.

Eastern Heights

The Ipswich City market has surged in the past two years and remains one of the region’s most buoyant, helped by its affordability, good infrastructure and an array of employment zones. Eastern Heights continues to attract elevated buyer demand close to the amenities of the Ipswich CBD, schools and parkland. Vacancies are ultra-low at 0.4%, with rents rising more than 20% in the past year, and yields are above average.

Edens Landing

This suburb is a box-ticker for buyers on a budget: solid homes, green spaces, train station, schools, and proximity to services and amenities in neighbouring Beenleigh – halfway between the Brisbane CBD and Surfers Paradise. Buyer demand keeps rising and prices have responded recently, with the median house price nudging above $500,000 recently. Low vacancies have generated a 20% rise in rents.

Kangaroo Point (Units)

This riverside suburb on the edge of the CBD and beside Woolloongabba (the venue of the main 2032 Olympics stadium) is the ideal fit for one of real estate’s emerging trends – the pursuit of affordable apartments in lifestyle locations. It’s no surprise that sales activity is trending up here. Typical units are priced in the $500,000s which is attractive for a location so close to inner-city amenities.

Redbank Plains

Sales volumes in this well-established battler suburb have soared in the past two years and prices are responding but remain affordable. It provides an affordable alternative to the neighbouring Springfield master-planned community. There are multiple school choices and the Redbank Plains Recreational Reserve is a bonus.

West End (Units)

The South Brisbane area has become one of Australia’s best inner-city lifestyle precincts: performing arts complexes, art galleries, museums, an array of fine restaurants, and riverbank parklands. The market is no longer weighed down by an oversupply of apartments. In a market that favours affordable well-located apartments, this market is rising at a time when Brisbane overall has been struggling. The median unit price is $565,000 and the rental yield is sitting at about 4.2%.

The 10 best suburbs in Brisbane to invest in

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SuburbMedian price1-yr growth10-yr average annual growth (%pa)Vacancy rateMedian rental yieldUpfront costs*20% deposit amountMonthly repayments (P&I) with 80% LVR
Annerley (U)$460,00010.4%3.0%0.2%4.2%$8,866$92,000$2,032
Deception Bay$540,00035.5%6.8%0.4%3.8%$11,980$108,000$2,386
Eastern Heights$395,00017.2%4.0%0.4%4.8%$6,356$79,000$1,745
Edens Landing$520,00026.8%4.7%0.4%4.0%$11,201$104,000$2,297
Kangaroo Point (U)$560,0007.7%2.4%0.9%4.5%$12,958$112,000$2,474
Redbank Plains$435,00031.8%4.8%0.4%4.5%$7,912$87,000$1,922
West End (U)$565,0004.6%1.0%1.1%4.2%$13,222$113,000$2,496

Sources: Median price, growth and rental yield – CoreLogic data sourced from yourinvestmentpropertymag.com.au dated 1 August 2022. Vacancy rates – SQM Research as at September 2022. Upfront cost – canstar.com.au as at 7 October 2022. Home loan repayment data – canstar.com.au as at 7 November 2022. U stands for units. *Upfront costs include stamp duty, mortgage registration and transfer fees. Stamp duty based on non-first home buyer, owner occupier purchase of an established dwelling. Upfront costs do not consider other costs including conveyancing or lenders mortgage insurance. ^Monthly repayments based on a loan amount per the median property price less the applicable deposit amount, the average variable interest rate, and monthly principal & interest repayments made over a total loan term of 30 years. Interest rates based on the average owner occupier, principal and interest variable rate for a loan of $500,000 as at 7 November 2022, for 80% LVR (5.25%).