With population growth, lifestyle appeal, infrastructure and employment opportunities, these 10 suburbs have everything to please home buyers and investors.
New research from Propertybuyer and Hotspotting has identified the new top 10 million-dollar suburbs with positive growth potential across the country for investors.
The top 10 list features nine house suburbs and one unit suburb, with four in Queensland, three in New South Wales, two in Victoria and one in South Australia.
Propertybuyer CEO and Founder Rich Harvey said the analysis identified the top 10 markets in Australia that are “teetering” on the edge of a million-dollar median.
“They are the markets where price growth has been steady in recent years and demand remains strong and with that trajectory set to continue these markets will soon breach the million-dollar barrier,” Mr Harvey said.
“They are also strong markets for investors, where rents have been rising, yields are solid and vacancy rates are low.”
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Mr Harvey said the new research report provides valuable insights, however, the Australian property market is ever evolving, influenced by international and local trends, news, and sentiment.
“Making a smart property purchase requires a blend of historical and forward-looking data, local expertise, and the agility to act swiftly when the ideal opportunity arises,” he said.
“These figures show that although price growth may have eased in some locations in the past six months, the number of million-dollar markets continues to increase throughout Australia.
“And there are still plenty of opportunities for investors to find markets that are set to tip over into million-dollar markets in 2025.”
Here’s a breakdown on each market.
Capalaba, Brisbane, Queensland
Median House Price: $876,000
Median rental Yield: 4.0%
Vacancy Rate: 0.9%
Mr Harvey said as the commercial hub of Redland City, Capalaba offers robust employment opportunities and excellent infrastructure.
“There is significant future development proposed including a $250 million town centre development to start in early 2025 which will include commercial precincts, public spaces, a new library, community facilities, and upgraded retail and dining areas,” he said.
“Capalaba is experiencing low days on the market, historically low supply, and a steady increase in buyer demand which indicates ongoing market strength.”
MORE NEWS: The property hotspots to watch in 2025
Coombabah, Gold Coast, Queensland
Median House Price: $950,000
Median Rental Yield: 4.3%
Vacancy Rate: 0.8%
Hotspotting Director Terry Ryder said Coombabah is expected to see 6.8 per cent annual growth over the next four years, supported by a healthy population growth trajectory.
“It is approximately 15 kilometres from the Gold Coast CBD and has excellent transport links and access to commercial hubs,” Mr Ryder said.
“It is a picturesque riverside location with plenty of open space, parks, and recreational facilities, making it a family-friendly and peaceful area.”
Edwardstown in Adelaide also stands to join the milliondollar club in 2025. Picture: Ben Clark
Edwardstown, Adelaide, South Australia
Median House Price: $900,000
Median Rental Yield: 3.7%
Vacancy Rate: 0.4%
Mr Harvey said Edwardstown is about seven kilometres from the Adelaide CBD and is close to two train stations, which makes it a convenient location for city workers.
“The ongoing construction of the North/South Motorway will continue to enhance that connectivity,” he said.
“The suburb is ideal for first home buyers, offering affordable housing options and a convenient location.
“With low days on the market and steady buyer demand, Edwardstown remains an attractive area for investors and homeowners.”
MORE NEWS: Property market under pressure as rate cut fuels demand
Hampton, Melbourne, Victoria (units)
Median Unit Price: $920,000
Median Rental Yield: 4.4%
Vacancy Rate: 0.7%
Mr Ryder said Hampton offers an affordable alternative to beachside Brighton and is popular with families with its parks, playgrounds and sporting amenities.
“It is a beach-friendly environment perfect for outdoor activities,” he said.
“Hampton has a vibrant shopping strip that offers a wide range of services, including cafes, restaurants, boutiques, gyms, and bars.
“There are pockets including Margarita Street, Castlefield Estate, Mills Street, and Orlando Street, which are sought-after for their proximity to schools and amenities.”
In Victoria, Hampton and Langwarrin are suburbs to watch.
Langwarrin, Frankston, Victoria
Median House Price: $855,000
Median Rental Yield: 4.0%
Vacancy Rate: 1.2%
Mr Ryder said Langwarrin is a prime location for owner occupiers and investors.
“It is popular with families as it has five outstanding schools, including Woodlands Primary, Elizabeth Murdoch College, and Woodleigh Secondary,” he said.
“The area retains a lovely semi-rural feel and is just seven kilometres from Frankston Beach, a 35-minute drive to Western Port Bay for fishing and around a 45-minute drive to the Melbourne CBD.
“It is also only a few minutes from the Peninsula Link Freeway, granting access to Mornington Peninsula’s beaches, wineries, and restaurants.”
Teralba, Lake Macquarie, New South Wales
Median House Price: $900,000
Median Rental Yield: 4.3%
Vacancy Rate: 0.9%
Mr Harvey said Teralba is expected to experience 6.1 per cent annual growth over the next four years.
“It has strong investment appeal for subdivision and townhouse development,” he said.
“The suburb provides a lakeside lifestyle with easy access to Lake Macquarie, perfect for boating and sailing enthusiasts. It is also close to key local hubs of Warners Bay and Toronto.
“Significant growth is anticipated with the expansion of Lake Macquarie Private Hospital (due for completion in 2027) and the $1bn North-West Lake Macquarie development adding 13,000 residents and 3,000 jobs.”
Aerial view of Surfers Paradise, Gold Coast.
Upper Coomera, Gold Coast, Queensland
Median House Price: $910,000
Rental Yield: 4.6%
Vacancy Rate: 1.1%
Mr Ryder said Upper Coomera continues to grow steadily, driven by increasing demand for family-friendly housing.
“It offers easy access to both Brisbane and the Gold Coast and major transport hubs and features modern homes on medium-sized blocks, with plenty of parks, schools, and recreational facilities to support future population growth.
“The approved Harbour Shores master-planned community ($1.5bn) and the Coomera Connector ($3.02bn), which is well under way are expected to help boost the area’s growth and demand.”
Waratah, Newcastle, New South Wales
Median House Price: $905,000
Median Rental Yield: 4.0%
Vacancy Rate: 0.9%
Mr Harvey said Waratah is expected to experience 6.4 per cent annual growth over the next four years, supported by its proximity to Newcastle’s key hubs.
“It has a very low vacancy rate of around one per cent, which signals high rental demand,” he said.
“Waratah offers easy access to Newcastle University, Mater Hospital, and quality schools, plus excellent transport connections via train.
“Its market is characterised by low days on market, low supply, and high buyer demand.”
Woombye, Sunshine Coast, Queensland
Median House Price: $970,000
Median Rental Yield: 4.0%
Vacancy Rate: 0.6%
Mr Ryder said the Sunshine Coast hinterland town of Woombye has growing appeal because of its vibrant, small-town charm, which is a perfect fit for families seeking affordability and tranquillity.
“It is only 15 kilometres from the Sunshine Coast CBD and has easy access to major transport hubs,” he said.
“The suburb has a family-friendly, peaceful atmosphere with parks, scenic views and local markets.
“Woombye’s market is characterised by low supply, high buyer demand, and low days on the market.”
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