Property investment in Australia has always been most lucrative in major capitals like Sydney and Melbourne. Post pandemic however, market trends indicate that more investors are turning their sights to regional markets in North Queensland.  

And it’s not hard to see why. Fast-growing Queensland regional cities like Townsville and Cairns show huge growth in sales and rental figures from 2020-2022, which has continued to rise over 2023 and 2024 as more development plans are approved. 

North Queensland’s property market 

In 2023, a study from CoreLogic revealed regional Queensland as one of the fastest-growing real estate markets in Australia, outperforming other NSW, VIC, and Tasmanian counterparts. 

The population of North Queensland is projected to grow to 442,330 by 2040. Employment opportunities, new infrastructure, and housing availability will drive local and international migration to the region. 

As of September 2024, the median house price in North Queensland is $714,000, 11.73% higher than the previous 12-month period.

5 Best North QLD suburbs for investment  

With North Queensland spanning 80,041.5 km² of land, it’s hard to know where to start. We’ve done the research for you — here are 6 of the best North QLD suburbs for investment. 

1. Burdell, 4818

15.8km west of the Townsville CBD, Burdell is a 13 drive to the city centre. Residential housing is in the south of the suburb - the northern part is mostly marshland that has yet to be developed. Within the suburban area are several parks, as well as a great selection of schools such as the Townsville Grammar School North Shore Campus. 

With a warm local community vibe and relatively affordable house prices that are seeing consistent growth, Burdell holds potential for investors looking for long term capital growth. 

Median house price: $510,000 (+13.3% from Oct 2023 – Sept 2024)

Median rental: $550 per week (+12.2% from Oct 2023 – Sept 2024)

Rental yield: 5.8%

Population: 7,171 

Number of private dwellings: 2,653

2. Castle Hill, 4810

Castle Hill is in the heart of Townsville, just 3.7km from the city centre. Home to the iconic Castle Hill Lookout that offers panoramic views of the city at 900+ feet, the suburb is one of Townsville’s more exclusive. Discerning investors will be able to identify opportunities presented in Castle Hill despite the higher median house price of $1.2 million — its proximity to both the Townville CBD and the bustling activity of the Strand make it an attractive option for mature professionals looking for city convenience in an up-and-coming regional city.  

Median house price: $1,272,500 (+26.6% from Oct 2023 – Sept 2024) 

Median rental: $1,200 per week (+50.0% from Oct 2023 – Sept 2024) 

Rental yield: 3.7%

Population: 972

Number of private dwellings: 394

3. Bohle Plains, 4817

Bohle Plains is one of the newer suburbs in Townsville, approximately 17.7 km from the city centre. It is growing rapidly due to the Harris Crossing master-planned development. The opportunity here for investors is in the form of house and land packages — new homes that have incredible potential for returns once the development is completed and ready to house over 800 families. 

Median house price: $542,500 (+20.6% from Oct 2023 – Sept 2024)

Median rental: $550 per week (+10.0% from Oct 2023 – Sept 2024)

Rental yield: 5.9%

Population: 3,989

Number of private dwellings: 1,506

4. Garbutt, 4814

The suburb of Garbutt is residential in the east, industrial in the south, and houses the Townsville International Airport in the north. Less than 6km from Townsville CBD, Garbutt’s stands out due to how well-connected it is with the rest of the region. 

Surprisingly, house prices in Garbutt stand at the $400,000 mark, but is seeing quick growth as more residents and investors discover its value and potential for capital gains as Townsville continues to grow. 

Median house price: $411,000 (+22.7% from Oct 2023 – Sept 2024)

Median rental: $470 per week (+8.7% from Oct 2023 – Sept 2024)

Rental yield: 6.0%

Population: 2,309

Number of private dwellings: 1,255

5. Bushland Beach, 4818

Bushland Beach is a coastal suburb 22km from the Townsville CBD, and 7km from Deeragun, an outwestern suburb with plenty of amenities. With a beautiful local beach that stretch along the Coral Sea, Bushland Beach is Townsville’s only masterplanned beachside community, making it a highly sought-after location for residents who want the luxury of a home that’s close to the beach. 

Bushland Beach is also supported by a network of modern conveniences and amenities, including its own shopping centre and a local tavern for water activities like fishing and boating. 

Median house price: $565,000 (+14.1% from Oct 2023 – Sept 2024) 

Median rental: $550 per week (+7.8% from Oct 2023 – Sept 2024)

Rental yield: 5.5% 

Population: 6,641

Number of private dwellings: 2,368 

Invest in North Queensland with Keir Constructions

For investors looking for opportunities in North Queensland’s best suburbs for investment, it’s worthwhile looking at both existing and new builds for your new investment. 

As North Queensland’s leading builder, Keir Constructions can work with you to create a quality new home build for investment. View our collection of house and land packages in Townsville or get in touch with our team today to find out more about our new home build options.