6.6 MIN READ

Which is the Best Suburb to Build in 2021?

Best suburbs to build in
The Australian property dream is alive and booming in 2021!

Government grants and generous offers from builders are inspiring buyer confidence, and people are back to asking the age-old question: “Where should I build?”

There’s no single suburb that’s best for everyone’s needs, but looking at population growth and government spending (especially on roads, schools, hospitals and retail projects) means we can spot the areas that make the best sense for buyers and investors alike.

Let’s take a look at our top picks for the best suburbs to build in 2021.

I’m looking to buy!

Morayfield, QLD

Morayfield is one of Northern Brisbane’s most attractive options for first home buyers on a budget. The suburb features an easy commute to the CBD in one direction, and stunning Moreton Bay is at your fingertips in the other.

  • Population growth 2019-20 – 4.7%
  • Median house price – $399,000
  • House price growth 2019-20 – 6.5%
  • 5-year compound price growth – 2.48%

Springfield Lakes, QLD

Located in Ipswich, the fastest growing city in the region, Springfield Lakes is the perfect suburb for young families. With major developments in the area, the suburb is a great opportunity for buyers looking to enter the market for less.

  • Population growth 2019-20 – 9.2%
  • Median house price – $450,000
  • House price growth 2019-20 – 3.12%
  • 5-year compound price growth – 1.1%

Cessnock, NSW

Just outside Newcastle, Cessnock is the ideal area for buyers looking for affordability and low deposit options. Its location makes the area a great choice for anyone wanting to live within reach of Sydney without spending a fortune.

  • Population growth 2019-20 – 2.4%
  • Median house price – $390,000
  • House price growth 2019-20 – 2.02%
  • 5-year compound price growth – 4.7%

Melton, VIC

If the sky-high prices in Melbourne don’t work for you, then the outer suburbs are the answer. Suburbs like Melton, where you can have your cake and eat it too, with affordable property and access to Melbourne CBD all in one.

  • Population growth 2019-20 – 9.1%
  • Median house price – $409,000
  • House price growth 2019-20 – 1.2%
  • 5-year compound price growth – 7.83%

White Hills, VIC

Two hours outside of Melbourne is Bendigo, one of Victoria’s biggest cities, and it’s where you’ll find suburbs like White Hills. Buying in White Hills is a great way to land yourself in stunning Central Victoria without breaking the bank.

  • Population growth 2019-20 – 3.9%
  • Median house price – $392,000
  • House price growth 2019-20 – 9.4%
  • 5-year compound price growth – 4.81%

I’m ready to invest:

Jimboomba, QLD

South of Brisbane, Jimboomba is following Logan’s upward trend. Billions worth of investment and its location in one of Brisbane’s strongest growth corridors makes Jimboomba an easy pick for its long-term rental and capital growth potential.

  • Population growth 2019-20 – 5.8%
  • Median house price – $633,750
  • House price growth 2019-20 – 5%
  • 5-year compound price growth – 4.75%
  • Rental yield – 3.7%

Pimpama, QLD

Halfway between Brisbane and the Gold Coast, Pimpama is set to explode when the new Coomera Connector comes online. Strong rental yields and the potential for massive growth make Pimpama an attractive investment.

  • Population growth 2019-20 – 13.7%
  • Median house price – $479,000
  • House price growth 2019-20 – -3%
  • 5-year compound price growth – 0.08%
  • Rental yield – 4.9%

Maitland, NSW

One of Newcastle’s outer regions, Maitland is a strong investment. Government investment and the suburb’s affordability look set to continue attracting interest as Sydney itself grows and becomes more expensive to live in.

  • Population growth 2019-20 – 4.9%
  • Median house price – $434,500
  • House price growth 2019-20 – -2.4%
  • 5-year compound price growth – 6.99%
  • Rental yield – 4.6%

Werribee, VIC

In Melbourne’s western growth corridor is Werribee, a suburb spending billions of dollars on making itself into the new West Melbourne CBD. Upgrades to the area’s infrastructure, cityscape and education will keep drawing new residents for years to come.

  • Population growth 2019-20 – 14.3%
  • Median house price – $535,000
  • House price growth 2019-20 – 3.4%
  • 5-year compound price growth – 0.95%
  • Rental yield – 7.37%

Wollert, VIC

North of Melbourne you’ll find Wollert, home to some of the country’s strongest population growth. An incredible amount of investment in the area is expected to back up forecasts saying the area will triple in size over the coming years.

  • Population growth 2019-20 – 20.3%
  • Median house price – $580,000
  • House price growth 2019-20 – -1.2%
  • 5-year compound price growth – 0.95%
  • Rental yield – 4.7%

Talk to us about your area

If you’re interested in building in any of the suburbs above, or if you’d like more information on an area, feel free to get in touch with our friendly team at buildtoday! They’ll be happy to talk with you about your options and figure out suburbs work best for your buying or investment journey.

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