Brisbane Property Market Outlook for Investors in 2024

As an investor, keeping your finger on the pulse of the latest market trends is crucial, and Brisbane's property scene in 2024 is where your attention should be riveted. The recent years have witnessed a remarkable evolution, with Brisbane not just catching up but overtaking Melbourne in terms of median dwelling values. This seismic shift in the property landscape is a clear indicator of Brisbane's burgeoning appeal and its promising outlook for investors.

Why Brisbane? Understanding the Surge

You're likely wondering what has catapulted Brisbane to the forefront of property investment in Australia. The answer lies in a confluence of factors that have created a perfect storm for growth. Brisbane's allure is not just its enviable lifestyle and climate but also its economic resilience and growth prospects, fuelled by significant infrastructure projects and the buzz around the 2032 Olympics.

Migration trends have played a pivotal role, with a noticeable influx of people seeking the balanced lifestyle Brisbane offers. This demographic shift has added pressure to the housing market, tightening supply and pushing prices northwards. Additionally, the city's rental market has tightened, reflecting a demand that far outstrips supply, a trend that savvy investors can capitalise on.

Navigating the Investment Landscape in 2024

Investing in Brisbane's property market in 2024 requires a strategic approach. The city's diverse neighbourhoods offer a range of opportunities, from high-growth inner-city areas to more affordable suburbs with potential for capital gains. Understanding where to invest hinges on recognising the areas poised for growth, driven by infrastructure projects, lifestyle amenities, and connectivity improvements.

Key Drivers for Brisbane's Property Market in 2024 and Beyond

As we look towards the horizon, several key factors are poised to shape the future of Brisbane's property market. Understanding these drivers is essential for any investor aiming to make strategic decisions in this vibrant city.

  1. Population Growth and Internal Migration

Brisbane's population has consistently shown robust growth, driven not only by internal migration but also by its appeal to international newcomers, attracted by the city's lifestyle and economic opportunities. The city's population is estimated at 2.536 million in 2024, with a growth rate that reflects its status as one of Australia's fastest-growing cities. This growth is underscored by a diverse demographic composition, including a significant portion with English, Australian, Irish, Scottish, German, and Chinese ancestries.

Brisbane's ability to attract and retain people from various backgrounds, coupled with its historical capacity to exceed population growth estimates, suggests a dynamic urban centre poised for further expansion. The city's resilience, even in the face of challenges such as the major flood in 2011, highlights its capacity to rebound and continue attracting people from across Australia and around the world

  1. Infrastructure Development

Significant investments in infrastructure are underway in Brisbane, including transportation upgrades and the development of new public amenities. These projects not only enhance the liveability of the city but also boost property values in the surrounding areas. For investors, keeping an eye on upcoming infrastructure projects can provide insights into future hotspots.

Brisbane's ongoing infrastructure development is pivotal in enhancing its liveability and economic prospects. These developments are not only improving the quality of life for residents but also increasing the city's attractiveness to businesses and investors. By focusing on transportation, public amenities, and urban renewal, Brisbane is setting the stage for sustainable growth that can support its expanding population and economic base. These efforts are expected to create a ripple effect, boosting property values and opening new investment opportunities in and around the city.

  1. The 2032 Olympics Effect

The announcement of Brisbane as the host city for the 2032 Olympics has set the stage for an extended period of economic and developmental activity. Historically, cities that host the Olympics see a surge in international attention, improved infrastructure, and increased property demand. For Brisbane, this global event represents a long-term investment opportunity, with the potential for significant returns as the city transforms to welcome the world.

The preparation for the Olympics involves substantial investment in infrastructure, sports facilities, and urban beautification projects, which are expected to enhance the city's international reputation and appeal. The long-term benefits of hosting the Olympics, based on the experiences of previous host cities, include not only immediate economic boosts but also lasting improvements in infrastructure and global visibility.

  1. Economic Resilience and Growth

Brisbane's economic resilience is evident in its diverse industrial base, ranging from health care and social assistance to professional, scientific, and technical services. This diversity not only stabilises the city's economy against sector-specific downturns but also provides a broad foundation for growth. The city's focus on attracting talent and investment in key growth sectors, such as technology and education, further strengthens its economic prospects. Brisbane's status as one of the most liveable cities, coupled with its strategic position as the closest capital city to Asia on Australia's eastern seaboard, enhances its appeal to both domestic and international businesses and investors. This economic stability and growth potential make Brisbane an attractive destination for property investment, with opportunities across a range of sectors

Investment Strategies for 2024

Investing in Brisbane's property market in 2024 requires a nuanced approach that leverages both the city's current landscape and future growth projections. With Brisbane's property market expected to continue its strong performance, investors should consider the following refined strategies:

  • Focus on Growth Areas: High-performing areas within the Brisbane property market are predicted to be inner and middle-ring suburbs such as New Farm, Paddington, and Ascot. These suburbs are expected to experience significant price growth due to their proximity to the CBD, established infrastructure, and lifestyle amenities. Investing in these areas could yield considerable returns as demand for properties in well-located suburbs grows.
  • Diversify Your Portfolio: The forecast for Brisbane's house prices indicates an average of approximately $814,000 by 2025, with the city's property market expected to rise by 6 percent in 2023, 4 percent in 2024, and 3 percent in 2025. This steady growth trajectory underscores the importance of diversifying your investment portfolio. Consider a mix of property types, including units and houses in different suburbs, to capitalise on varying market dynamics and mitigate risks​.

Performers in 2023

In 2023, several Brisbane suburbs have stood out for their exceptional performance in property value growth and rental yields, signalling strong investment opportunities. Suburbs like Coorparoo, West End, and Chermside have seen substantial appreciation due to their strategic locations, lifestyle amenities, and connectivity to Brisbane's CBD. Coorparoo, known for its blend of classic and contemporary homes, has attracted a mix of professionals and families, driving up demand. West End, with its vibrant cultural scene and dining options, has appealed to young professionals and investors alike, resulting in impressive rental yields. Chermside, a suburb with extensive retail and healthcare facilities, has become a focal point for those seeking convenience and growth, making it a hotspot for investors.

  • Coorparoo: Demonstrated a 10% increase in median property prices, driven by high demand for its quality residential offerings and proximity to the city.
  • West End: Achieved high rental yields of around 5.5%, appealing to investors looking for strong rental markets.
  • Chermside: Experienced a growth rate of 8% in property values, supported by major infrastructure developments and an expanding commercial sector.

Price Forecasts and Market Predictions for 2024

Looking ahead to 2024, the Brisbane property market is expected to remain buoyant, with forecasts suggesting a steady growth trajectory across many suburbs. Factors contributing to this outlook include continued population growth, infrastructure investment, and Brisbane's growing appeal as a lifestyle destination. The market is predicted to see an overall growth of 4-6% in median property values, with particular strength in suburbs undergoing infrastructure upgrades or those close to employment hubs.

  • Overall Market Growth: Predicted to be between 4-6%, with a continued focus on sustainable growth and demand in key areas.
  • Emerging Suburbs: Suburbs such as North Lakes and Springfield, with ongoing development projects, are expected to outperform, offering attractive opportunities for early investors.
  • Luxury Market: Premium suburbs like Hamilton and Ascot are forecasted to maintain their value, with a steady demand for high-end properties.

Investors are advised to monitor these trends and consider long-term growth prospects when making investment decisions. Diversifying investments across different suburbs and property types could mitigate risks and capitalise on the varied growth rates within Brisbane's dynamic property market.


As we navigate through the dynamic landscape of Brisbane's property market, it's clear that 2024 presents a wealth of opportunities for savvy investors. With its robust population growth, strategic infrastructure developments, and the upcoming 2032 Olympics, Brisbane is poised for a period of sustained growth and prosperity. The city's diverse and resilient economy further cements its status as a prime location for property investment, offering both stability and attractive returns.

Identifying top-performing suburbs and staying ahead of market predictions requires a nuanced understanding of local trends, economic factors, and future projections. For investors looking to maximise their returns and make informed decisions, leveraging professional advice is key. Whether you're aiming to diversify your portfolio, explore value-add opportunities, or simply get a foothold in Brisbane's promising property market, guidance from seasoned experts can make all the difference.

At Ally Property Group, we're committed to helping you navigate the complexities of property investment with confidence and ease. Our team of experienced Property Investment Advisers possesses deep market insights and a strategic approach to investment that is tailored to meet your individual goals and circumstances. By booking a complimentary meeting with us, you'll gain personalized advice, access to exclusive investment opportunities, and the strategic support you need to thrive in Brisbane's vibrant property market.

Don't miss out on the potential that Brisbane's property market has to offer. Take the first step towards securing your investment future by scheduling a complimentary meeting with a Property Investment Adviser at Ally Property Group today. Together, we can unlock the door to successful property investment and pave the way for your financial growth and stability in 2024 and beyond.


Embark on your property investment journey with Ally Property Group, your trusted ally in Australia's real estate market. Our expert advisers are dedicated to crafting personalised investment strategies for Australian expats and residents alike, aiming to enhance your portfolio and maximise returns. Start building your wealth with Ally Property Group, where strategic insights, analysis and modelling leads to prosperous investments.

We’re more than just property advisers. As Australian expats ourselves, we've navigated the intricate world of property investment both at home and abroad. With a legacy rooted in financial services, we offer a holistic, transparent, and strategic approach, ensuring you're equipped with the knowledge and confidence to make informed decisions.

Book an obligation-free, complimentary consultation here today.

General Information Warning: The information contained herein is of a general nature only and does not constitute in any way, personal advice. You should not act on any recommendation without considering your personal needs, circumstances, and objectives. We recommend you obtain professional property investment advice specific to your circumstances.

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