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Which Is The Best Suburb To Build In 2021?

Waterfront park at sunset | Privium Homes

Read time: 8.2 minutes

Despite the challenges of the last 18 months, Australia’s real estate industry is alive and booming.

With government incentives being extended in this year’s budget, our property market is in a great position to continue leading the country’s economic recovery. Government grants and offers from builders have enticed buyers back to the table and has them once again wondering which suburbs are the best value for them.

Choosing exactly where to build is a challenge we’re familiar with, and clients often come to us for advice on which suburbs they should be looking at. And, while there’s no such thing as the best suburb for everyone, we can use the data on an area to judge where owner-occupiers and investors should be building.

To get you started we’ve put together a few suburbs where we think your new home or investment will thrive in 2021.

Best Suburbs for Owner-Occupiers

1. Thornlands, QLD

Head east of Brisbane and you’ll end up in the fast-growing Redland City, home to the suburb of Thornlands. Thornlands offers lifestyle in spades with easy access to Moreton Bay on one side and a short commute to Brisbane CBD on the other.

  1. Population growth 2019-20 – 4.7%
  2. Median house price – $637,500
  3. House price growth 2019-20 – 5.03%
  4. 5-year compound price growth – 1.6%
2. Springfield Lakes, QLD
A lake with lake house | Privium Homes
Springfield Lakes is one of Queensland's fastest growing suburbs.

Springfield Lakes sits in the heart of Ipswich, the fastest growing city in the region. Major developments in the area mean the suburb is the ideal place for first home buyers and young families on a budget.

  1. Population growth 2019-20 – 9.2%
  2. Median house price – $450,000
  3. House price growth 2019-20 – 3.12%
  4. 5-year compound price growth – 1.1%
3. Morisset, NSW

Nestled comfortably along the picturesque shores of Lake Macquarie, Morisset offers large blocks of land and waterside living in one. The long-term growth potential is strong as the area continues to attract people wanting to live near Sydney without spending a fortune.

  1. Population growth 2019-20 – 2.0%
  2. Median house price – $490,000
  3. House price growth 2019-20 – -9.3%
  4. 5-year compound price growth – 2.13%
4. Tweed Heads South, NSW
Aerial view of a beachside town | Privium Homes
Tweed Heads boasts stunning coastlines.

Slow down and enjoy the idyllic beaches of Tweed Heads. Located just 30 minutes from the Gold Coast, Tweed Heads South will treat you to affordable property, strong growth and the beachfront lifestyle you’ve been dreaming of.

  1. Population growth 2019-20 – 0.9%
  2. Median house price – $645,000
  3. House price growth 2019-20 – 8.59%
  4. 5-year compound price growth – 7.83%
5. Bannockburn, VIC

Just outside of Geelong, Victoria’s second-largest city, Bannockburn is a great prospect for first home buyers wanting to live in the Melbourne region. Major projects are underway to better connect Geelong with Melbourne CBD and help the area flourish as it grows.

  1. Population growth 2019-20 – 3.4%
  2. Median house price – $617,500
  3. House price growth 2019-20 – 4.96%
  4. 5-year compound price growth – 8.54%
6. Wallan, VIC

Less than an hour north of Melbourne is Wallan. The suburb is the gateway between metropolitan and rural Victoria, and it captures the appeal of a country town while providing great access to Australia’s largest capital city.

  1. Population growth 2019-20 – 6.8%
  2. Median house price – $560,000
  3. House price growth 2019-20 – 6.68%
  4. 5-year compound price growth – 8.35%

Best Suburbs for Investors

7. Forest Lake, QLD

Forest Lake’s investment potential stands out because it offers affordable property within easy reach of Brisbane, Ipswich and Logan cities.  Already showing healthy rental returns, Forest Lake is an attractive option for tenants and investors alike.

  1. Population growth 2019-20 – 2.2%
  2. Median house price – $470,000
  3. House price growth 2019-20 – 1.67%
  4. 5-year compound price growth – 1.87%
  5. Rental yield – 4.5%
8. Logan Reserve, QLD

One of Southeast Queensland’s major growth corridors, Logan is the centre of billions worth of private and public spending. Logan Reserve is the ideal investment, with large, semi-rural blocks being ripe for residential developments that will support the city’s population growth.

  1. Population growth 2019-20 – 13.2%
  2. Median house price – $435,000
  3. House price growth 2019-20 – -3.2%
  4. 5-year compound price growth – 2.18%
  5. Rental yield – 4.66%
9. Maitland, NSW

Outside of Newcastle, Maitland is set to attract interest from new residents as the Newcastle and Sydney regions grow. Affordable properties, strong rental returns and long-term growth potential make the area a fantastic investment opportunity.

  1. Population growth 2019-20 – 4.9%
  2. Median house price – $434,500
  3. House price growth 2019-20 – -2.4%
  4. 5-year compound price growth – 6.99%
  5. Rental yield – 4.6%
10. Werribee, VIC
Zebra, rhinos & gazelles in a field | Privium Homes
Werribee is home to Werribee Open Range Zoo

West of Melbourne is Werribee, a city transforming itself into a CBD for the region’s future. Billions worth of upgrades to the suburb’s infrastructure, cityscape and education facilities mark Werribee as an area for investors to watch carefully.

  1. Population growth 2019-20 – 14.3%
  2. Median house price – $535,000
  3. House price growth 2019-20 – 3.4%
  4. 5-year compound price growth – 0.95%
  5. Rental yield – 3.4%
11. Wollert, VIC

In Melbourne’s northern growth corridor is Wollert, one of Australia’s fastest-growing suburbs. Strong private and government investment is already underway with the area expecting to triple in size over the next two decades.

  1. Population growth 2019-20 – 20.3%
  2. Median house price – $580,000
  3. House price growth 2019-20 – -1.2%
  4. 5-year compound price growth – 4.7%
  5. Rental yield – 3.76%

Get Suburb Advice from Our Team

If you’re an owner-occupier or investor looking to build a new home, our friendly team at Privium Homes would love to hear from you. We’ll be more than happy to discuss your options and help figure out which suburbs or areas make the most sense for your new project.

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