Whether you’re looking to make a sea change or you’re simply looking for the best place to invest your real estate dollars in 2023, Regional Queensland is fast becoming a hot spot for real estate investment in Australia.
Call it the COVID effect or a natural progression, but just don’t call it a phase. With strong year on year growth and a trend towards internal migration that leverages increasing ‘work from anywhere freedom’, many have their sights set on the next hot spot in the maroon state.
So, with so much land, so many options, and affordability that metro-dwellers can only dream of, where should you be placing your real estate investment bets?
To make things simple, we’ve compiled a list of the top investment suburbs in regional Queensland for 2023. Using Real Estate and Australian Bureau of Statistics (ABS) data, our list of the best investment suburbs and areas regional QLD has to offer exposes new opportunities and shines a light on well-known growth hot spots.
Regional QLD Best Investment Suburbs Overview
- Bundaberg South
- Cassowary Coast
- Douglas
- Fraser Coast
- Yeppoon
- Gladstone
- South Toowoomba
Bundaberg South, QLD 4670
A real estate agent from Bundaberg shining a light on their home city – no real surprises here, right?
Biases aside, there is a very good reason why Bundaberg South appears on the list of the best investment suburbs in regional Queensland for 2023.
New data from 2023 reveals that Bundaberg has the second highest economic growth rate of any major Queensland regional centres for the second year in a row.
With an economic growth rate of 7.1%, Bundaberg is second only to the Sunshine Coast at 8% – which we could certainly up for debate whether these two areas fall into the same category.
In any case, significant infrastructure growth and new jobs underscore Bundaberg’s impressive growth figures and support the rapid growth of local real estate markets.
So then, just how rapid was Bundaberg South’s real estate growth over the last 12-months? Well, according to the latest data from the REA group (realestate.com.au), Bundaberg saw an impressive 12-month purchase growth rate of 4.9% between October 2022 – September 2023.
In the rental market, things look even more competitive with a 22.1% rental growth rate on house rental prices over the same period of October 2022 – September 2023.
Population: 102,076 – entire Bundaberg region (Bundaberg Regional Council Data, 2022)
Attractions: Climate, parks, beaches, iconic rum factory, green spaces, and parks
Median House Price: $350,000 (up 4.9% October 2022 – September 2023)
Median House Rental: $442 p/w (up 22.1% October 2022 – September 2023)
Median Unit Price: $280,000 (up 14.8% October 2022 – September 2023)
Median Unit Rental: $330 p/w (up 10.0% October 2022 – September 2023)
Closest Airport: Bundaberg Regional Airport
You’ll Love It If: You love natural beauty, making the most of the outdoors, bush walking, and aren’t afraid of a good distillery or brew house.
Cassowary Coast, QLD 4871
The Cassowary Coast is an expansive region in the Far North Queensland Region. Known for the towns of Innisfail, Cardwell and Tully, the Cassowary Coast is the result of a 2008 merger between the Shire of Cardwell and the Shire of Johnstone.
Spanning 4,701 square kilometres from Garradunga in the north to Cardwell in the south and East Palmerston in the west, the Cassowary Coast is home to almost 30,000 residents and is enjoying an economic boom that has been more than a little kind to the local real estate markets.
Today, the Cassowary Coast is a region that is high demand for those looking to make the most of its natural beauty and tropical climate.
Population: 29,605 (id Consulting, 2022)
Attractions: Wet tropics, World Heritage Listed areas, Great Barrier Reef access, Rainforests
Median House Price: $486,000 (up 8.2% 2022 – 2023)
Median House Rental: $431 p/w (up 3.36% 2022 – 2023)
Closest Airport: Dallachy Aerodrome
You’ll Love it if: You spend more time outdoors than indoors, you want to experience all of Australia’s natural beauty, and you love living by the water.
Douglas, QLD 4814
Douglas is a suburb within the City of Townsville in the Northeast region of Queensland.
Known for its year-round warm weather and tropical environment, Douglas has seen a steady increase in popularity and housing demand over the past five years as the population has increased by more than 80%.
For those looking to take advantage of all that the Northeast region of Queensland has to offer with simple access to amenities, Douglas should be on your radar.
Population: 12,660 (id Consulting, 2022)
Attractions: Tropical weather, endless outdoor activities for the family, green spaces, and strong educational links to Universities and Schools.
Median House Price: $422,500 (down -1.1% 2022 – 2023)
Median House Rental: $480 p/w (up 9.1% 2022 -2023)
Median Unit Price: $260,000
Median Unit Rental: $400 p/w (up 5.3% 2022 -2023)
Closest Airport: Townsville Airport
You’ll Love it if: You’re looking for somewhere to settle in the Northeast region of Queensland at an accessible price point.
Fraser Coast, QLD
The Fraser Coast region is an LGA within the Wide Bay–Burnett region of Queensland, Australia situated around three-hours’ drive north (250km) of Brisbane.
The Fraser Coast region is known for World Heritage listed natural landmarks, secluded beaches, and endless access to the best of the outdoors.
Compared to neighbouring LGAs, the Fraser Coast region offers relatively affordable housing which is attracting increased demand from first-home buyers, as well as local and interstate investors.
Population: 115,079 (id Consulting, 2022)
Attractions: Lake McKenzie, Central Station Rainforest, Seventy-Five Mile Beach
Median House Price: $589,000 (up 13.2% 2022 – 2023)
Median House Rental: $480 p/w (up 7.8% 2022 -2023)
Median Unit Price: $419,000 (up 19.7% 2022 – 2023)
Median Unit Rental: $360 p/w (up 9% 2022 -2023)
Closest Airport: Hervey Bay Airport
You’ll Love it if: You love the outdoors, new job opportunities, and year-round weather that the southern states just can’t match.
Yeppoon, QLD 4703
Yeppoon is a coastal gem located in the Shire of Livingstone, Queensland, Australia. Spanning around 28 square kilometres, Yeppoon is another regional QLD suburb that is experiencing a significant growth demand over the past three years.
Steeped in natural beauty and boasting year-round tropical weather, Yeppoon is a favourite for beach lovers and working professionals who undertake the daily 38km commute to Rockhampton where the economy is booming.
Yeppoon has seen steep growth in real estate prices and rental demand over the past 12-months with an 11.7% increase in house prices.
Population: 115,079 (id Consulting, 2022)
Attractions: Lake McKenzie, Central Station Rainforest, Seventy-Five Mile Beach
Median House Price: $589,000 (up 13.2% 2022 – 2023)
Median House Rental: $480 p/w (up 7.8% 2022 -2023)
Median Unit Price: $419,000 (up 19.7% 2022 – 2023)
Median Unit Rental: $360 p/w (up 9% 2022 -2023)
Closest Airport: Hervey Bay Airport
You’ll Love it if: You love the outdoors, new job opportunities, and year-round weather that the southern states just can’t match.
Gladstone, QLD 4680
Gladstone has seen a significant bump to the local population numbers and economy over the past three years.
Call it the post-covid effect or simply the spawning nature of Australia’s population shift, but Gladstone is in a purple patch for real estate growth with house prices increasing by 4.6% over the past 12-months. It’s not just the price growth that should have investors salivating, however, it’s the strong rental demand that is reflected in a 7.0% increase in house rental prices over the same period.
Population: 63,515 (ABS, 2021)
Attractions: Abundant outdoor exploration opportunities, a growing local economy and expanding population.
Median House Price: $551,000 (up 4.6% 2022 – 2023)
Median House Rental: $366 p/w (up 7.0% 2022 -2023)
Median Unit Price: $272,000 (up 12.4% 2022 – 2023)
Median Unit Rental: $304 p/w (up 8.6% 2022 -2023)
Closest Airport: Gladstone (GLT) Airport
You’ll Love it if: You’re looking to get involved in the regions burgeoning hydrogen industry, or you’re simply looking for a (relatively) affordable property in one of regional Queensland’s fastest growing economies.
South Toowoomba, QLD 4350
As the name may give away, South Toowoomba is a suburb within the Toowoomba Region. With a local population of just over 5,000 and close proximity to schools, cafes, the CBD, parks, and health facilities, South Toowoomba is experiencing strong housing demand with a growth rate of 6.8% over the last 12months for houses and a staggering 27.9% growth for units.
Population: 5,512 (ABS, 2021)
Attractions: Queens Park Botanic gardens, Cobb+Co Museum, and a bevvy of local cafes and eateries that are putting the suburb on the map.
Median House Price: $494,000 (up 6.8% 2022 – 2023)
Median House Rental: $420 p/w (up 7.7% 2022 -2023)
Median Unit Price: $425,000 (up 27.9% 2022 – 2023)
Median Unit Rental: $380 p/w (up 10.1% 2022 -2023)
Closest Airport: Toowoomba Wellcamp (WTB) Airport
You’ll Love it if: You’re looking for a relaxed and safe place to pull up stumps with your family without sacrificing on essential amenities, health care, and education opportunities.
