Top 10 Suburbs for Property Investment in Australia — September 2026
Our September 2026 screen of more than 100 suburbs. Mowbray, Tasmania leads the houses, Manunda in Cairns leads the units, and five August entries are revised on the latest data.
#1 Houses
Mowbray, TAS
PIS 70.1 · $540K · 5.14%
#1 Units
Manunda, QLD
PIS 75.0 · $357K · 6.28%
Screened
100+ suburbs
89 scored in full
Methodology
PIS v2.0
component scores published
Data as at 25 September 2026 · Suburb medians, growth, sales and days on market: Cotality, 12 months to 30 June 2026 · Rents and yields: Cotality, August 2026 · Vacancy: SQM Research, August 2026 · Regional price trend: PropTrack, three months to July 2026 · Methodology: PIS v2.0
Jump to: How we selected · Top 10 Houses · Top 10 Units · Interest cover · What changed · Supplementary screens · Catalyst map · FAQs · Methodology appendix · Sources
Quick answer
On our September 2026 screen, the top-ranked suburbs for property investment in Australia are Mowbray, Tasmania (houses) and Manunda, Queensland (units, Cairns). We screened more than 100 suburbs and scored 89 in full. Each had to pass two gates: SQM postcode vacancy of 1.5% or less, and a gross yield of 4.3% or more (or a median of $700,000 or less with a delivered or funded catalyst). Passing suburbs were then ranked on our 0–100 Property Investment Score (PIS). The rankings depend on this method; different weights would produce different lists.
September 2026 at a glance
| Category | Pick | Why it ranks |
|---|---|---|
| #1 Houses | Mowbray TAS ($540K, 5.14%) | 0.63% vacancy; Launceston region prices rising in the three months to July |
| #1 Units | Manunda QLD ($357K, 6.28%) | 14 days on market; Cairns unit prices rising in the three months to July |
| Highest yield on the main lists | Woree QLD units (7.28%) | Confirmed on two data bases (7.0% on propertyvalue.com.au) |
| Best capital-city house | Bakewell NT, Palmerston ($600K, 6.32%) | Darwin was the only capital to rise in August |
| Biggest faller | Armadale WA houses (August #1, now #9) | Yield compressed to 4.58% as the median rose to $666K |
| Updated on new data | Armidale NSW (houses and units) | Postcode vacancy 2.85% (SQM, August 2026), above our 1.5% threshold; both entries move off the lists |
Source: our PIS v2.0, September 2026; Cotality via Your Investment Property; SQM Research; Cotality Home Value Index, August 2026.
With the RBA widely expected to raise the cash rate on 29 September (all four major banks forecast a rise to 4.60%, and ASX futures implied a 90% probability on 24 September), this month's screen weights rental demand and yield above trailing growth. Brisbane, Adelaide and Perth, which supplied most of this series' picks in April and May, have seen prices fall and yields compress as their affordable corridors grew into higher prices.
Most suburbs that rank this month are in Launceston and north-west Tasmania, Darwin and Palmerston, Cairns and Townsville, and regional Western Australia. Several carry risks the earlier capital-city picks didn't: resource-cycle history in the Northern Territory, cyclone-zone insurance in far north Queensland, and smaller sales volumes. Each entry's main risk is listed beside it.
How were the suburbs selected?
Quick answer
We screened more than 100 suburbs and scored 89 in full. A suburb had to have SQM postcode vacancy of 1.5% or less in August 2026 and a gross yield of 4.3% or more (or a median of $700,000 or less with a delivered or funded catalyst). It also needed at least 50 house or 30 unit sales in 12 months. Passing suburbs were ranked on PIS v2.0: demand signals 45%, returns 32%, fundamentals 23%.
Weights (unchanged since June): vacancy 20%, days on market 13%, sale conditions 12%, gross yield 16%, 12-month sold-median change 8%, affordability 8%, infrastructure 13%, demographic and supply durability 10%.
Four list rules, applied after scoring:
- Thin markets (fewer than 50 house or 30 unit sales in 12 months) are excluded.
- One entry per postcode per list, because suburbs in one postcode share a single SQM vacancy reading.
- No more than two entries per SA4 region per list, so one regional market can't fill a list.
- Single-industry towns are excluded, where the local economy depends on one mine or smelter (this month, Kalgoorlie, Boulder and Port Pirie West). This is an editorial judgement this month; a Census-based threshold replaces it from October.
The exact scoring formula, every component score for the 20 ranked suburbs, and the suburbs each rule displaced are in the Methodology appendix at the end of this article. PIS v2.0 scores aren't comparable with earlier editions' scores, so rank changes compare positions only.
Top 10 Suburbs — Houses (September 2026)
Quick answer
Mowbray TAS ranks first, followed by Bakewell NT, Rangeway WA, Bridgewater TAS and Moulden NT. All ten have postcode vacancy under 1.2% and a median at or below $728,000. Two Perth suburbs (Midvale and Armadale) make the list; no Adelaide suburb does.
| Rank | Suburb | State | Postcode | Median (12m to Jun) | 12m sold-median change (to Jun) | Gross yield (Aug) | Vacancy (Aug) | DoM (12m) | Sales (12m) | PIS | vs August |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mowbray (Launceston) | TAS | 7248 | $540,000 | +24.1% | 5.14% | 0.63% | 14 | 81 | 70.1 | ▲8 |
| 2 | Bakewell (Palmerston) | NT | 0832 | $600,000 | +24.0% | 6.32%(5.6% on propertyvalue) | 0.30% | 34 | 79 | 66.9 | NEW |
| 3 | Rangeway (Geraldton) | WA | 6530 | $420,000 | +32.9% | 6.05% | 0.86% | 14 | 72 | 66.2 | NEW |
| 4 | Bridgewater (Hobart) | TAS | 7030 | $520,000 | +23.8% | 5.47%(4.8% on propertyvalue) | 0.38% | 13 | 60 | 65.6 | NEW |
| 5 | Moulden (Palmerston) | NT | 0830 | $548,750 | +26.2% | 6.07% | 0.25% | 48 | 82 | 64.3 | NEW |
| 6 | Devonport | TAS | 7310 | $585,000 | +20.6% | 4.77% | 0.66% | 13 | 268 | 62.9 | NEW |
| 7 | Midvale (Perth) | WA | 6056 | $728,000 | +27.7% | 5.26% | 0.67% | 12 | 75 | 61.7 | NEW |
| 8 | Carey Park (Bunbury) | WA | 6230 | $600,000 | +18.8% | 5.19% | 0.63% | 13 | 123 | 60.1 | NEW |
| 9 | Armadale (Perth) | WA | 6112 | $666,000 | +17.9% | 4.58% | 0.91% | 10 | 384 | 56.5 | ▼8 |
| 10 | Berserker (Rockhampton) | QLD | 4701 | $526,000 | +22.3% | 5.61%(5.0% on propertyvalue) | 1.18% ⚠ | 13 | 213 | 55.8 | NEW |
Source: our PIS v2.0. Median, sold-median change, days on market (DoM) and sales: Cotality 12 months to 30 June 2026, via Your Investment Property; medians and changes also match propertyvalue.com.au (captured 25 September). Gross yield: Cotality value-based yield, August 2026; propertyvalue.com.au's rent ÷ median figure shown where it differs by more than 0.4 points. Vacancy: SQM Research postcode series, August 2026.
⚠ Berserker's postcode vacancy has risen from 0.70% in May to 1.18% in August.
Property Investment Score — Top 10 Houses, September 2026
PIS v2.0 (0–100). Colour indicates state. Axis starts at 50 to make rank gaps readable.
TASNTWAQLD
Source: our PIS v2.0, September 2026.
Why each house ranks, and its main risk
| Suburb | Why it ranks | Main risk |
|---|---|---|
| Mowbray | 0.63% vacancy, 14-day sales, rising regional market (to July) | Rent covers about 86% of interest at an illustrative 7%; vacancy up from 0.26% a year ago |
| Bakewell | 0.30% vacancy, 6.32% yield | Darwin's history of long downturns; 34 days on market |
| Rangeway | $420,000 entry, 6.05% yield, borders the Geraldton locality, where the Geraldton Health Campus redevelopment was completed in July 2026 | Growth figures disagree by source (+32.9% sold median, +18.4% modelled value) |
| Bridgewater | 0.38% vacancy, 13-day sales, New Bridgewater Bridge opened June 2025 | Hobart houses weren't rising in July; 4.8% yield on propertyvalue's basis |
| Moulden | 0.25% vacancy, 6.07% yield | 48 days on market, the slowest on the list |
| Devonport | 268 sales a year, 0.66% vacancy | 4.77% yield, close to the gate |
| Midvale | 5.26% yield, 12-day sales, next to Midland station (opened February 2026) | $728,000 median; Perth listings well above a year ago |
| Carey Park | 0.63% vacancy, Bunbury Regional Hospital redevelopment under construction next door | Bunbury houses weren't rising in July |
| Armadale | 384 sales a year, delivered rail | Yield compressed to 4.58%; rent covers about 86% of interest at 7% |
| Berserker | 5.61% yield, Rockhampton Ring Road under construction | Vacancy rising for three months |
Mowbray, TAS 7248 (PIS 70.1)
Mowbray ranks first on a $540,000 median, a 5.14% gross yield, 0.63% postcode vacancy and a regional market that PropTrack showed rising in the three months to July (Launceston and North East houses +1.4% for the quarter, +15.1% for the year). Homes sold in a median 14 days over the past year. The suburb borders Invermay, where the University of Tasmania's Inveresk precinct was completed in October 2024, part of a $304 million relocation from Newnham (Tasmanian and federal ministerial release, 18 October 2024). Invermay scored just below Mowbray (66.7) and shares its vacancy reading, so our one-per-postcode rule lists only Mowbray.
Balanced view
On our interest-cover stress test, Mowbray's asking rent covers about 86% of the interest on an 80% interest-only loan at an illustrative 7.00%. Postcode vacancy has risen from 0.26% a year ago. Its +24% trailing growth ran through a rising market; in our view it is unlikely to repeat while prices are falling.
Bakewell and Moulden, Palmerston NT (PIS 66.9 and 64.3)
Darwin was the only capital to record a monthly rise in August (+0.6%, Cotality), and Palmerston postcodes have some of the lowest vacancy in our pool (0.25–0.30%). Bakewell houses yield 6.32% on Cotality's figure and 5.6% on propertyvalue.com.au's; Moulden yields 6.07%. On our stress test both cover their interest at 7% by about 1.05 times; Rangeway is the only other house on the list to do so.
Balanced view
Darwin has had the longest downturns of any capital: values fell by about a third between the 2014 resources-boom peak and early 2020 (CoreLogic data, as reported by The Urban Developer). Selling times are slow (34 and 48 days). We don't score the proposed Middle Arm industrial precinct as a catalyst this month. Both Palmerston entries' infrastructure scores rest on projects that aren't recent (Palmerston Regional Hospital opened in 2018; CDU's city campus in 2024) and are likely priced in. Scored as "nothing verified", Bakewell houses would score about 60 and Moulden about 58.
Rangeway, Bridgewater and Devonport (PIS 66.2, 65.6 and 62.9)
Rangeway, an inner eastern suburb of Geraldton, has a $420,000 median and a 6.05% yield, and borders the Geraldton locality where the $192 million Geraldton Health Campus redevelopment was completed on 1 July 2026. Bridgewater, on Hobart's northern edge, has 0.38% vacancy and a 13-day selling time, and the $786 million New Bridgewater Bridge opened to traffic on 1 June 2025. Devonport is the deepest market on the list, with 268 house sales in 12 months, and TT-Line's $493 million Spirit Quay berth at East Devonport is under construction, with first commercial sailings targeted for 31 October 2026 (TT-Line chair, as reported by The Examiner).
Balanced view
Hobart houses weren't among PropTrack's rising regions in July, and a delivered bridge may already be priced in. Devonport's 4.77% yield sits close to our gate, and its asking rent covers about 84% of interest at 7%.
Top 10 Suburbs — Units (September 2026)
Quick answer
Manunda and Woree in Cairns lead, followed by Bakewell (Palmerston), Geraldton WA and Nightcliff (Darwin). Eight of the ten have gross yields above 5.4%, all have postcode vacancy under 1.2%, and Cannington, August's #1, is #7.
| Rank | Suburb | State | Postcode | Median (12m to Jun) | 12m sold-median change (to Jun) | Gross yield (Aug) | Vacancy (Aug) | DoM (12m) | Sales (12m) | PIS | vs August |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Manunda (Cairns) | QLD | 4870 | $357,000 | +28.0% | 6.28% | 0.64% | 14 | 97 | 75.0 | NEW |
| 2 | Woree (Cairns) | QLD | 4868 | $320,000 | +16.4% | 7.28% | 0.47% | 25 | 83 | 74.4 | NEW |
| 3 | Bakewell (Palmerston) | NT | 0832 | $395,000 | +33.9% | 7.26% | 0.30% | 35 | 70 | 74.3 | NEW |
| 4 | Geraldton | WA | 6530 | $356,000 | +42.4% | 5.84%(6.6% on propertyvalue) | 0.86% | 16 | 45 | 71.4 | NEW |
| 5 | Nightcliff (Darwin) | NT | 0810 | $391,250 | +17.5% | 7.23%(8.0% on propertyvalue) | 0.34% | 34 | 119 | 71.3 | NEW |
| 6 | Hermit Park (Townsville) | QLD | 4812 | $380,000 | +24.8% | 5.43% | 0.66% | 14 | 49 | 69.8 | NEW |
| 7 | Cannington (Perth) | WA | 6107 | $625,000 | +22.6% | 5.61% | 0.49% | 12 | 125 | 65.7 | ▼6 |
| 8 | Midland (Perth) | WA | 6056 | $570,000 | +22.6% | 5.50% | 0.67% | 7 | 121 | 65.4 | NEW |
| 9 | Lavington (Albury) | NSW | 2641 | $397,000 | +30.2% | 5.28% | 1.19% | 27 | 80 | 64.4 | NEW |
| 10 | Mount Gambier | SA | 5290 | $424,000 | +28.1% | 4.59% | 0.37% | 30 | 111 | 64.2 | NEW |
Source: as for the houses table. Cotality's modelled 12-month value change to August is lower than the sold-median change for several entries: Manunda +18.0%, Bakewell +28.9%, Geraldton +26.4%, Lavington +14.7%, Mount Gambier +13.2%.
Property Investment Score — Top 10 Units, September 2026
PIS v2.0 (0–100). Colour indicates state. Axis starts at 50 to make rank gaps readable.
NTWAQLDNSWSA
Source: our PIS v2.0, September 2026.
Why each unit ranks, and its main risk
| Suburb | Why it ranks | Main risk |
|---|---|---|
| Manunda | 14-day sales, 6.28% yield, Cairns units rising in the three months to July | Cyclone-zone strata insurance; regional Queensland prices fell in the three months to August |
| Woree | $320,000 entry, 7.28% yield on two data bases | Older walk-up stock; strata insurance |
| Bakewell | 0.30% vacancy, 7.26% yield | Darwin cycle risk; 35 days on market |
| Geraldton | $356,000 entry; the Geraldton Health Campus redevelopment in the suburb was completed in July 2026 | 45 sales; growth figures disagree by source |
| Nightcliff | 119 sales, 0.34% vacancy | Yield reads range from 6.8% to 8.0% by source |
| Hermit Park | 0.66% vacancy; Townsville units +19.2% for the year to July (PropTrack) | 49 sales; CopperString still in approvals |
| Cannington | 0.49% vacancy, rail delivered June 2025, 125 sales | Perth prices falling; a supply build flagged in the surrounding Canning house market |
| Midland | 7-day sales, station opened February 2026 | Perth listings well above a year ago |
| Lavington | Murray region units rising in the three months to July | Vacancy of 1.19%, close to the gate |
| Mount Gambier | 0.37% vacancy, SA South East units rising to July | 4.59% yield, the lowest on the list |
Cairns units: Manunda and Woree (PIS 75.0 and 74.4)
Cairns takes the top two unit spots. Woree has a $320,000 median and a 7.28% yield (7.0% on propertyvalue.com.au), with 0.47% vacancy and 83 sales. Manunda sells in 14 days at $357,000 and 6.28%. PropTrack had Cairns units up 1.4% for the three months to July and 13.0% for the year. The Queensland Government's $1 billion Cairns Hospital expansion is funded, with construction expected to start in late 2026.
Balanced view
Cotality's regional Queensland index fell over the three months to August, so the July rise may not have held. Far north Queensland is a cyclone zone, and strata insurance can take a meaningful share of gross rent; ask for the body corporate's insurance and levy history. Sub-$350,000 Cairns stock is mostly older walk-up buildings. The hospital is funded but not built.
Darwin units: Bakewell and Nightcliff (PIS 74.3 and 71.3)
Bakewell (7.26%) and Nightcliff (7.23%) pair yields above 7.2% with vacancy of 0.30–0.34%; only Woree yields more on the units list. Nightcliff, with 119 sales, is the more liquid of the two.
Balanced view
Yields this high partly reflect Darwin's cycle risk, and selling times are slow (34–35 days). Nightcliff's yield ranges from 6.8% to 8.0% depending on the basis; the lower figure is the more conservative one to test against. Darwin City postcode 0800 saw vacancy rise from 0.57% to 1.06% in August. Several Darwin and Cairns entries share the same cyclical, insurance and liquidity risks, so holding more than one adds to the same exposure.
Perth and two regional newcomers
Cannington drops from #1 to #7 with its numbers little changed ($625,000, 5.61%, 0.49% vacancy) as higher-yield regional options entered the pool. Midland units ($570,000, 5.50%, seven days on market) join the list; Midland houses give way to neighbouring Midvale, which shares the 6056 postcode. Lavington (#9) and Mount Gambier (#10) sit in regions where PropTrack's July data showed unit prices still rising; the Albury Wodonga Regional Hospital's Northeast Building is due in late 2026.
Interest-cover stress test (not a cash-flow calculation)
Quick answer
At an illustrative 7.00% stress rate, asking rent covers the interest on an 80% interest-only loan for seven of the ten units and three of the ten houses (Bakewell, Moulden and Rangeway). This measures interest cover only. It excludes rates, insurance, strata, maintenance, management, vacancy, land tax, tax and principal, so it isn't positive cash flow.
This is our own stress test, kept separate from the PIS ranking. It compares a year's median asking rent with a year's interest on 80% of the median price, at two illustrative stress rates: 6.75% and 7.00%. These aren't lender quotes.
| Entry | Interest cover at 6.75% | At 7.00% | Weekly gap at 7.00% |
|---|---|---|---|
| Nightcliff NT units | 1.48× | 1.42× | +$179 |
| Woree QLD units | 1.35× | 1.31× | +$105 |
| Bakewell NT units | 1.34× | 1.29× | +$125 |
| Geraldton WA units | 1.22× | 1.17× | +$67 |
| Manunda QLD units | 1.19× | 1.14× | +$56 |
| Rangeway WA houses | 1.10× | 1.06× | +$28 |
| Bakewell NT houses | 1.09× | 1.05× | +$34 |
| Moulden NT houses | 1.09× | 1.05× | +$29 |
| Cannington WA units | 1.08× | 1.04× | +$25 |
| Hermit Park QLD units | 1.06× | 1.03× | +$11 |
| Midland WA units | 1.02× | 0.99× | −$9 |
| Berserker QLD houses | 0.95× | 0.92× | −$46 |
| Lavington NSW units | 0.94× | 0.91× | −$40 |
| Carey Park WA houses | 0.93× | 0.90× | −$66 |
| Bridgewater TAS houses | 0.93× | 0.89× | −$60 |
| Midvale WA houses | 0.93× | 0.89× | −$84 |
| Mowbray TAS houses | 0.89× | 0.86× | −$82 |
| Armadale WA houses | 0.90× | 0.86× | −$97 |
| Devonport TAS houses | 0.87× | 0.84× | −$100 |
| Mount Gambier SA units | 0.82× | 0.79× | −$97 |
Source: our analysis. Rent = median weekly asking rent × 52 (Cotality via Your Investment Property, August 2026). Interest = 80% of the 12-month median sold price (to June 2026) × stress rate, interest-only. Where the printed yield sits below the asking-rent yield, cover is lower (Nightcliff about 1.2× at its lowest yield read; Hermit Park about 0.97×).
Interest Cover at 7.00% — All 20 Ranked Entries, September 2026
Our analysis: median asking rent (Aug 2026) vs interest on 80% of the June 12-month median at an illustrative 7.00% stress rate, interest-only. Interest cover, not cash flow.
Houses Units
Source: our analysis; Cotality via Your Investment Property.
Every house outside Palmerston and Geraldton runs short of its interest at 7%, while most units cover it. Use the cash flow calculator to add the other holding costs for a specific property.
Due-diligence checklist for any suburb on these lists
Quick answer
Gross yield and vacancy are screening measures, not a purchase decision. Before buying, check acquisition costs, ongoing holding costs, the building (for units) and the property's exposure to natural hazards and insurance.
- Acquisition costs: stamp duty, legal and inspection fees, and lenders' mortgage insurance if the loan-to-value ratio is above 80%.
- Holding costs: council and water rates, landlord insurance, land tax, property management, maintenance and an allowance for vacancy.
- For units: strata levies and their recent history, the sinking-fund balance, building insurance, defect history, special levies, building age and planned capital works.
- Natural hazards: flood, bushfire, cyclone and coastal exposure, and the availability and cost of insurance. This matters across the lists, not only in Cairns; parts of Invermay, next to Mowbray, sit on the Tamar floodplain behind levees.
- Current pricing: June trailing medians lag a falling market, so compare recent comparable sales and current listings before making an offer.
What changed since August: revisions on the latest data
Quick answer
One month is too short to judge price performance. The September data also revise seven inputs from the August edition: moving every entry to postcode-level vacancy takes Armidale (houses and units) and Tamworth units above the 1.5% vacancy threshold, Paralowie's current median takes it below the yield threshold, Beckenham's yield is now measured on Cotality's basis, and two project timelines are updated to the latest official schedules.
| Entry or input | August edition | September data | What changes |
|---|---|---|---|
| Armidale NSW houses (#5) and units (#2) | Regional vacancy reading | SQM postcode 2350: 2.85% (August 2026) | Above the 1.5% vacancy threshold; both entries move off the lists |
| Tamworth NSW units (#10) | Regional vacancy reading | SQM postcode 2340: 2.04% (August 2026) | Above the vacancy threshold; moves off the units list |
| Paralowie SA houses (#4) | $620,500 median, 4.6% yield | $755,000 Cotality 12-month median (also shown by propertyvalue.com.au); yield 4.1–4.15% | Below the 4.3% yield threshold at the current price; moves off the houses list |
| Beckenham WA units (yield list #1) | 6.6% yield (REIWA) | 5.60% on Cotality's value-based yield, the basis now used for every entry | Moves down the yield screen |
| Logan Hospital Stage 2 | Completion ~end-2026 | $874.7 million, completion late 2027 (Metro South Health) | Catalyst timing updated to the official schedule |
| New England REZ | Main construction from H2 2027 | Financial close in 2028, with construction after that (EnergyCo) | Catalyst timing updated to EnergyCo's latest schedule |
Source: SQM Research postcode vacancy (June and August 2026); Cotality via Your Investment Property and propertyvalue.com.au, 25 September 2026; Metro South Health; EnergyCo.
From September, every entry uses its own SQM postcode vacancy reading, including every WA postcode, where August used regional or metro readings for some entries. On that basis, Armidale's postcode vacancy reads 2.85% and Tamworth's 2.04% in August 2026, both above our 1.5% threshold.
One month, like for like. Six August entries were printed on the same basis we use now: Midland houses ($680,550 to $695,000), Davoren Park ($605,000 to $610,000), Salisbury units ($525,000, unchanged), North Mackay units ($422,500 to $430,000), Cannington units (5.6% to 5.61% yield) and Armidale units ($400,000, unchanged). propertyvalue.com.au now shows the same figures as this edition, but its current reads sit well above the August edition's figures (Armadale $640,000 to $666,000, Smithfield $620,000 to $655,000). The gap is larger than one month usually moves a trailing median, so we compare direction rather than size between the two editions. We'll run a full three-month scorecard in November.
Supplementary screens: yield, trailing growth and $1 million markets
Quick answer
These lists are secondary to the main rankings. The highest yields are in Darwin-region units, led by Darwin City (7.68%). The strongest trailing sold-median growth is in small regional unit markets, led by Geraldton (+42.4%). Moana SA has reached a $1 million median.
Highest gross yields
| Rank | Suburb | State | Type | Median | Gross yield (Aug) | Vacancy (Aug) | Note |
|---|---|---|---|---|---|---|---|
| 1 | Darwin City | NT | Unit | $450,000 | 7.68% | 1.06% ⚠ | Vacancy rose from 0.57% in July |
| 2 | Coconut Grove | NT | Unit | $415,000 | 7.58% | 0.34% | 43 days on market |
| 3 | Woree | QLD | Unit | $320,000 | 7.28% | 0.47% | #2 on the units list |
| 4 | Bakewell | NT | Unit | $395,000 | 7.26% | 0.30% | #3 on the units list |
| 5 | Stuart Park | NT | Unit | $480,000 | 7.06% | 0.44% | |
| 6 | Bakewell | NT | House | $600,000 | 6.32% | 0.30% | 5.6% on propertyvalue |
| 7 | Manunda | QLD | Unit | $357,000 | 6.28% | 0.64% | #1 on the units list |
| 8 | Port Augusta | SA | House | $325,528 | 6.12% | 1.31% | Upper Spencer Gulf; near the Whyalla steelworks |
| 9 | Moulden | NT | House | $548,750 | 6.07% | 0.25% | 48 days on market |
| 10 | Mackay | QLD | Unit | $402,000 | 6.07% | 1.24% | Vacancy drifting up |
Source: Cotality value-based gross yield, August 2026, via Your Investment Property; SQM Research, August 2026. Ranked from the full screened pool: vacancy gate passers with at least 50 house or 30 unit sales, one entry per postcode for each dwelling type, single-industry towns excluded (Boulder houses 9.14%, Kalgoorlie units 8.94% and houses 8.46%, Port Pirie West houses 6.93%). Ties broken by PIS.
Trailing 12-month growth leaders (backward-looking)
| Rank | Suburb | State | Type | Median | 12m sold-median change (to Jun) | Modelled value change (to Aug) |
|---|---|---|---|---|---|---|
| 1 | Geraldton | WA | Unit | $356,000 | +42.4% | +26.4% |
| 2 | West End (Townsville) | QLD | Unit | $445,000 | +39.1% | +14.8% |
| 3 | Bakewell | NT | Unit | $395,000 | +33.9% | +28.9% |
| 4 | Rangeway | WA | House | $420,000 | +32.9% | +18.4% |
| 5 | Salisbury | SA | Unit | $525,000 | +31.3% | — |
| 6 | Lavington | NSW | Unit | $397,000 | +30.2% | +14.7% |
| 7 | Dubbo | NSW | Unit | $416,500 | +29.8% | +29.3% |
| 8 | Logan Central | QLD | Unit | $506,000 | +29.7% | — |
| 9 | Mount Gambier | SA | Unit | $424,000 | +28.1% | +13.2% |
| 10 | Manunda | QLD | Unit | $357,000 | +28.0% | +18.0% |
Source: Cotality via Your Investment Property (sold-median change) and OnTheHouse (modelled value). Same pool rules as the yield list; Kalgoorlie units (+43.6%) and houses (+37.2%) and Port Pirie West houses (+41.7%) excluded as single-industry towns. These figures record past growth and aren't a forecast.
$1 million watch
| Suburb | State | Cotality 12m median (to Jun) | REIWA calendar-2026 median | Status |
|---|---|---|---|---|
| Moana | SA | $1,000,000 (+7.5%) | — | Reached $1 million |
| Joondalup | WA | $986,000 (+17.0%) | $1,013,000 | Above $1 million on REIWA's basis only |
| Secret Harbour | WA | $945,250 (+17.7%) | $1,000,000 | Reached $1 million on REIWA's basis only |
| Springfield Lakes | QLD | $930,000 (+17.0%) | — | Below |
| Loganholme | QLD | $920,000 (+16.9%) | — | Below |
| Belmont | WA | $902,000 (+18.4%) | $929,000 | Below |
Source: Cotality via Your Investment Property; REIWA, calendar 2026 to 25 September. The two bases use different windows.
The catalyst map — September 2026
Quick answer
We score delivered infrastructure above promised infrastructure. This month's map updates two project timelines to the latest official schedules: Logan Hospital Stage 2 is due in late 2027, and the New England REZ's main construction follows a 2028 financial close.
| Catalyst | Suburbs | Stage | Timing |
|---|---|---|---|
| Thornlie–Cockburn link | Cannington | Delivered | June 2025 |
| Midland station | Midland (in suburb), Midvale (adjacent) | Delivered | February 2026 |
| New Bridgewater Bridge ($786m) | Bridgewater | Delivered | Opened 1 June 2025 |
| UTAS Inveresk campus | Mowbray (adjacent) | Delivered | October 2024 |
| Geraldton Health Campus ($192m) | Geraldton (in suburb), Rangeway (adjacent) | Delivered | 1 July 2026 |
| Spirit Quay berth, East Devonport ($493m, TT-Line) | Devonport | Construction | First sailings targeted 31 October 2026 (as reported) |
| Rockhampton Ring Road ($1.98bn) | Berserker | Construction | Mid-2029 |
| Bunbury Regional Hospital ($572m) | Carey Park | Construction | Under way |
| Albury Wodonga Regional Hospital ($558m) | Lavington | Construction (part) | Northeast Building late 2026 |
| Cairns Hospital expansion ($1bn) | Manunda, Woree | Funded | Construction from late 2026 |
| Darwin Ship Lift ($850m) | Darwin | Construction | Construction due to finish by March 2027 (as reported) |
| Palmerston Regional Hospital | Bakewell, Moulden | Delivered | August 2018 (serving the Palmerston region) |
| Charles Darwin University city campus | Nightcliff | Delivered | October 2024 (serving Darwin) |
| CopperString Eastern Link | Hermit Park | Approvals | 2032, subject to approvals by 2028 |
| Logan Hospital Stage 2 ($874.7m) | Logan Central | Construction | Late 2027 (updated) |
| New England REZ | Armidale, Tamworth | Planning | Financial close 2028 (updated) |
| Cross River Rail | Woolloongabba | Testing | 2029 |
Source: official project and government pages listed in Sources, checked 25 September 2026.
Market context — September 2026
Quick answer
The market backdrop is falling prices, an expected rate rise and still-tight rental vacancy. In those conditions our framework puts more weight on yield and vacancy than on trailing growth; it doesn't make these suburbs immune from falls. National values fell 0.9% in August (Cotality), and provisional daily data show the falls accelerating in Brisbane, Adelaide and Perth in September.
Prices. Cotality's national Home Value Index fell 0.9% in August, the fifth consecutive fall, leaving values 3.6% below the March peak; Darwin (+0.6%) was the only capital to rise (Cotality HVI). Cotality's daily index for the five largest capitals was down about 1.0% for September to the 25th, with Brisbane, Adelaide and Perth falling faster than in August (provisional). Cotality's combined regional index fell 0.4% in August and 0.5% over the 28 days to 20 September.
Supply. Total listings over the 28 days to 20 September were up 57.7% on a year ago in Perth, 55.2% in Brisbane and 44.6% in Adelaide (Cotality Property Market Indicator Summary, week ending 20 September). Cotality's final clearance rate was 49.1% for that week. Research group FoundIt's September report, as reported by The Daily Telegraph, flagged similar stock build-ups in former boom corridors; we couldn't access the report directly, so we note it without relying on its figures.
Rents. SQM's national vacancy held at 1.3% in August, and Cotality's national gross yield was 3.79%, the highest since September 2019.
Rates. All four major banks forecast a rise to 4.60% on 29 September (calls as at 21 September), and ASX futures implied a 90% probability on 24 September. Our RBA September preview covers repayments and borrowing capacity.
Bank house-price forecasts (not like-for-like measures)
| Bank | Dated | Measure | Geography | Forecast |
|---|---|---|---|---|
| Westpac | 11 Sep | Change over calendar 2026 | National | −6% |
| NAB | 3 Sep | Change over calendar 2026 | Eight capitals | −5% |
| CBA | 1 Sep | Peak to trough | National | −9% |
| ANZ | ~11 Aug | Peak to trough | Capitals | −10.6% |
Source: Westpac Market Outlook, September 2026; NAB Housing Monitor, September 2026; CommBank, 1 September 2026; ANZ as reported, August 2026.
A note for SMSF investors
Quick answer
Since 10 August 2026, new limited recourse borrowing arrangements can be used to buy real property only if it's business real property, so any SMSF purchase of residential property on these lists would be made without borrowing. SMSFs are outside the new negative gearing restriction.
The Treasury Laws Amendment (Tax Reform No. 1) Act 2026 excludes complying superannuation entities, including SMSFs, from the new negative gearing restriction (s 26-155(4)(b)). Schedule 5 of the same Act restricts new limited recourse borrowing arrangements to business real property from 10 August 2026; the ATO's guidance (published 28 July 2026) says LRBAs entered into on or after that date to purchase real property "can only be used to acquire business real property." SMSFs can still buy residential property outright. Existing arrangements are subject to transitional rules, including on refinancing, so have the specific arrangement reviewed professionally. Separately, the ATO states that complying SMSFs are entitled to a CGT discount of one-third.
Lower-priced entries reduce how much of a fund sits in one property, but a fund also needs to keep enough liquidity and follow its documented investment strategy. Our SMSF property investment service covers ungeared and commercial options.
What would change these rankings?
Quick answer
At each monthly ranking, an entry drops out if its latest postcode vacancy is above 1.5% or its yield is below 4.3% without a qualifying catalyst. A further rate rise would put more pressure on entries with low interest cover, while rising listings or insurance costs would weaken the northern entries.
- Vacancy drift. Berserker (1.18%) and Lavington (1.19%) are within about 0.3 points of the gate, and Darwin City's rise to 1.06% could spread.
- Listings in the northern markets. The Darwin and Cairns rankings rest on tight supply; a stock build like Perth's would weaken them.
- A further rate rise. Entries with interest cover below 0.9 at 7% would become harder to hold.
- The regional price turn. If Cotality's regional index falls more than 1% a month for two months, trailing-growth figures will overstate current conditions.
- Insurance and strata costs, which no yield figure captures.
Outlook: key dates into October
Quick answer
The RBA decision on 29 September, Cotality's September index on 1 October and SQM's September vacancy in mid-October will shape the October ranking; the September-quarter CPI on 28 October sets up the November RBA meeting.
| Date | Event |
|---|---|
| Tue 29 Sep, 2:30pm | RBA decision |
| Wed 30 Sep, 11:30am | ABS monthly CPI, August |
| Thu 1 Oct | Cotality Home Value Index, September (expected) |
| Mid-October | SQM Research vacancy, September |
| Sun 25 Oct | Western Sydney International Airport opens to passengers |
| Wed 28 Oct | ABS quarterly CPI, September quarter |
| Tue 3 Nov | RBA decision and new forecasts |
Frequently Asked Questions
On our September 2026 screen, the top-ranked houses are Mowbray TAS, Bakewell NT, Rangeway WA, Bridgewater TAS and Moulden NT, and the top-ranked units are Manunda QLD, Woree QLD, Bakewell NT, Geraldton WA and Nightcliff NT. The rankings depend on our method.
We screened more than 100 suburbs and scored 89 in full. Each needed SQM postcode vacancy of 1.5% or less (August 2026), a gross yield of 4.3% or more or a median of $700,000 or less with a delivered or funded catalyst, and at least 50 house or 30 unit sales. Passing suburbs were ranked on PIS v2.0, weighted 45% demand signals, 32% returns and 23% fundamentals, using Cotality data to June (prices) and August (rents and yields).
Their affordable suburbs mostly fail our yield gate, with gross yields for houses largely below 4.3%. Sydney values were 7.1% below their February peak in August.
Darwin has had the longest downturns of any capital: values fell by about a third between 2014 and early 2020 (CoreLogic data, as reported). Selling times on our Darwin entries are 34–48 days, and Darwin City's vacancy rose to 1.06% in August. Several Darwin entries share the same cyclical and liquidity risks.
No. Our stress test compares asking rent with interest only. It excludes rates, insurance, strata, maintenance, management, vacancy, land tax, tax and principal. Seven of the ten units and three of the ten houses cover interest at an illustrative 7%, but a full cash-flow calculation will usually show a smaller surplus or a shortfall.
Its median rose to $666,000 and its yield compressed to 4.58%, while higher-yield regional suburbs entered the pool. It still passes both gates.
Yes, without borrowing. Since 10 August 2026, new LRBAs can only be used for business real property. A fund's purchase also needs to fit its investment strategy and liquidity needs.
The Bottom Line
Our September 2026 screen ranks Mowbray first for houses and Manunda first for units. Both lists draw mainly on Tasmania, Darwin and Palmerston, Cairns and Townsville, and regional WA, where vacancy is mostly below 0.9% and yields run from 4.6% to 7.3%. Perth's Midvale, Armadale, Cannington and Midland still rank, but lower than August's Perth picks did.
Our separate interest-cover stress test shows how differently these holdings would carry a further rate rise: at an illustrative 7%, asking rent covers interest for seven of the ten units and three of the ten houses. The northern markets carry both the highest yields and the highest cyclical and insurance risks.
Watch the RBA decision on 29 September, Cotality's September index on 1 October and SQM's September vacancy in mid-October. The October edition will re-rank on that data, and the November edition will include a three-month scorecard of the August picks.
Methodology appendix (PIS v2.0)
Quick answer
Every measurable input is scored 0–100 between fixed anchors and weighted into the PIS; infrastructure uses the exact-value rubric below and demographic durability is a published judgement score. The tables below give every component score, the suburbs our list rules displaced, and the full screening universe.
Formula. Each measurable input is converted to a 0–100 score by straight-line interpolation between two anchors, capped at 0 and 100: score = (value − low anchor) ÷ (high anchor − low anchor) × 100.
| Input | Weight | Scores 0 at | Scores 100 at | Data |
|---|---|---|---|---|
| Vacancy | 20% | 2.0% | 0.0% | SQM postcode, August 2026 |
| Days on market | 13% | 60 days | 10 days | Cotality 12-month average to June |
| Sale conditions | 12% | SA4 not rising = 30 | SA4 up 1%+ in 3 months = 100 (up 0–1% = 70) | PropTrack SA4, 3 months to July |
| Gross yield | 16% | 3.5% | 8.0% | Cotality value-based, August 2026 |
| 12m sold-median change | 8% | 0% | 30% | Cotality, 12 months to June |
| Affordability | 8% | $800,000 | $300,000 | Cotality median, 12 months to June |
| Infrastructure | 13% | Rubric below | Official project sources | |
| Demographic and supply | 10% | Our assessment | See note |
PIS = the weighted sum of the eight scores.
Infrastructure rubric (exact values). "In the suburb" means the project sits within the suburb's boundary; "adjacent" means it sits in a suburb that shares a boundary. 90 = major project delivered in the suburb; 85 = delivered in an adjacent suburb; 70 = delivered, serving the wider city or region; 80 = under construction in or adjacent to the suburb; 65 = under construction, serving the wider city or region; 50 = funded, not started; 40 = in planning or approvals, or a project under $50 million; 20 = nothing verified.
Demographic and supply durability remains a judgement score this month (25 for a single-industry town, otherwise 40–70). Each ranked suburb's value is shown below; a Census-based measure replaces it from October.
Component scores, houses
| Suburb | Vacancy | DoM | Sale cond. | Yield | Growth | Afford. | Infra. | Demog. | PIS |
|---|---|---|---|---|---|---|---|---|---|
| Mowbray | 68.5 | 92.0 | 100 | 36.4 | 80.5 | 52.0 | 85 | 50 | 70.1 |
| Bakewell | 85.0 | 52.0 | 70 | 62.7 | 79.9 | 40.0 | 70 | 60 | 66.9 |
| Rangeway | 57.0 | 92.0 | 30 | 56.7 | 100 | 76.0 | 85 | 50 | 66.2 |
| Bridgewater | 81.0 | 94.0 | 30 | 43.8 | 79.4 | 56.0 | 90 | 40 | 65.6 |
| Moulden | 87.5 | 24.0 | 70 | 57.1 | 87.2 | 50.2 | 70 | 60 | 64.3 |
| Devonport | 67.0 | 94.0 | 70 | 28.2 | 68.7 | 43.0 | 80 | 50 | 62.9 |
| Midvale | 66.5 | 96.0 | 30 | 39.1 | 92.4 | 14.4 | 85 | 65 | 61.7 |
| Carey Park | 68.5 | 94.0 | 30 | 37.6 | 62.7 | 40.0 | 80 | 60 | 60.1 |
| Armadale | 54.5 | 100 | 30 | 24.0 | 59.6 | 26.8 | 90 | 65 | 56.5 |
| Berserker | 41.0 | 94.0 | 30 | 46.9 | 74.4 | 54.8 | 65 | 55 | 55.8 |
Component scores, units
| Suburb | Vacancy | DoM | Sale cond. | Yield | Growth | Afford. | Infra. | Demog. | PIS |
|---|---|---|---|---|---|---|---|---|---|
| Manunda | 68.0 | 92.0 | 100 | 61.8 | 93.2 | 88.6 | 50 | 65 | 75.0 |
| Woree | 76.5 | 70.0 | 100 | 84.0 | 54.5 | 96.0 | 50 | 60 | 74.4 |
| Bakewell | 85.0 | 50.0 | 70 | 83.6 | 100 | 81.0 | 70 | 55 | 74.3 |
| Geraldton | 57.0 | 88.0 | 70 | 52.0 | 100 | 88.8 | 90 | 50 | 71.4 |
| Nightcliff | 83.0 | 52.0 | 70 | 82.9 | 58.3 | 81.8 | 70 | 60 | 71.3 |
| Hermit Park | 67.0 | 92.0 | 100 | 42.9 | 82.6 | 84.0 | 40 | 70 | 69.8 |
| Cannington | 75.5 | 96.0 | 30 | 46.9 | 75.2 | 35.0 | 90 | 65 | 65.7 |
| Midland | 66.5 | 100 | 30 | 44.4 | 75.3 | 46.0 | 90 | 70 | 65.4 |
| Lavington | 40.5 | 66.0 | 100 | 39.6 | 100 | 80.6 | 65 | 65 | 64.4 |
| Mount Gambier | 81.5 | 60.0 | 100 | 24.2 | 93.7 | 75.2 | 40 | 55 | 64.2 |
What the list rules changed. Before the postcode and SA4 caps, the houses top ten would have included Invermay TAS (66.7, same postcode as Mowbray), Rosebery NT (62.3) and Zuccoli NT (62.2), both in Bakewell's postcode, while Karama NT (61.7, a third Darwin-region entry) tied Midvale for tenth. Carey Park, Armadale and Berserker took their places. The uncapped units top ten would have included Manoora QLD (71.4) and Westcourt QLD (70.1), both in Manunda's postcode, and Rapid Creek NT (69.6) and Coconut Grove NT (68.7), both in Nightcliff's postcode. Cannington, Midland, Lavington and Mount Gambier took their places.
Full screening universe. Every suburb we screened this month, with its gate results and list outcome. Scored rows are in PIS order; the rows at the end were screened out before full scoring.
Show the full screening universe (107 rows: every suburb screened, gate results and list outcome)
| Suburb | Type | Postcode | Vacancy (Aug) | Gross yield (Aug) | Median (12m to Jun) | Sales (12m) | PIS | Result |
|---|---|---|---|---|---|---|---|---|
| Mowbray TAS | House | 7248 | 0.63% | 5.14% | $540,000 | 81 | 70.1 | Ranked #1 |
| Bakewell NT | House | 0832 | 0.30% | 6.32% | $600,000 | 79 | 66.9 | Ranked #2 |
| Invermay TAS | House | 7248 | 0.63% | 5.23% | $525,000 | 98 | 66.7 | Passed; one-per-postcode rule |
| Rangeway WA | House | 6530 | 0.86% | 6.05% | $420,000 | 72 | 66.2 | Ranked #3 |
| Port Pirie West SA | House | 5540 | 0.26% | 6.93% | $315,000 | 64 | 66.1 | Excluded: single-industry town |
| Bridgewater TAS | House | 7030 | 0.38% | 5.47% | $520,000 | 60 | 65.6 | Ranked #4 |
| Kalgoorlie WA | House | 6430 | 0.55% | 8.46% | $470,000 | 117 | 64.4 | Excluded: single-industry town |
| Moulden NT | House | 0830 | 0.25% | 6.07% | $548,750 | 82 | 64.3 | Ranked #5 |
| Devonport TAS | House | 7310 | 0.66% | 4.77% | $585,000 | 268 | 62.9 | Ranked #6 |
| Rosebery NT | House | 0832 | 0.30% | 5.81% | $700,000 | 107 | 62.3 | Passed; one-per-postcode rule |
| Zuccoli NT | House | 0832 | 0.30% | 6.05% | $727,000 | 205 | 62.2 | Passed; one-per-postcode rule |
| Midvale WA | House | 6056 | 0.67% | 5.26% | $728,000 | 75 | 61.7 | Ranked #7 |
| Karama NT | House | 0812 | 0.28% | 6.05% | $610,000 | 87 | 61.7 | Passed; two-per-region rule |
| Ravenswood TAS | House | 7250 | 0.75% | 5.66% | $442,000 | 44 | 61.1 | Excluded: thin market |
| Carey Park WA | House | 6230 | 0.63% | 5.19% | $600,000 | 123 | 60.1 | Ranked #8 |
| East Devonport TAS | House | 7310 | 0.66% | 5.07% | $530,000 | 68 | 60.0 | Passed; one-per-postcode rule |
| Midland WA | House | 6056 | 0.67% | 4.58% | $695,000 | 144 | 59.7 | Passed; one-per-postcode rule |
| Newnham TAS | House | 7248 | 0.63% | 5.00% | $605,500 | 122 | 59.6 | Passed; one-per-postcode rule |
| Boulder WA | House | 6432 | 1.25% | 9.14% | $385,000 | 149 | 56.8 | Excluded: single-industry town |
| Armadale WA | House | 6112 | 0.91% | 4.58% | $666,000 | 384 | 56.5 | Ranked #9 |
| Berserker QLD | House | 4701 | 1.18% | 5.61% | $526,000 | 213 | 55.8 | Ranked #10 |
| Geraldton WA | House | 6530 | 0.86% | 5.34% | $540,000 | 101 | 55.5 | Passed; one-per-postcode rule |
| Mount Gambier SA | House | 5290 | 0.37% | 4.38% | $555,500 | 478 | 54.7 | Passed; outside top 10 |
| Walkervale QLD | House | 4670 | 1.13% | 5.04% | $610,000 | 80 | 54.5 | Passed; outside top 10 |
| Ellenbrook WA | House | 6069 | 0.89% | 4.49% | $825,000 | 445 | 54.3 | Passed; outside top 10 |
| Port Augusta SA | House | 5700 | 1.31% | 6.12% | $325,528 | 132 | 53.9 | Passed; outside top 10 |
| Koongal QLD | House | 4701 | 1.18% | 5.31% | $555,000 | 103 | 53.7 | Passed; one-per-postcode rule |
| Park Avenue QLD | House | 4701 | 1.18% | 5.48% | $550,000 | 135 | 52.8 | Passed; one-per-postcode rule |
| Bundaberg South QLD | House | 4670 | 1.13% | 5.14% | $565,000 | 64 | 52.2 | Passed; outside top 10 |
| Alkimos WA | House | 6038 | 0.96% | 4.39% | $840,000 | 327 | 52.0 | Passed; outside top 10 |
| Heatley QLD | House | 4814 | 1.06% | 5.12% | $575,000 | 83 | 52.0 | Passed; outside top 10 |
| Warrnambool VIC | House | 3280 | 0.99% | 4.76% | $645,000 | 574 | 51.9 | Passed; outside top 10 |
| Kwinana Town Centre WA | House | 6167 | 0.83% | 5.34% | $690,000 | 11 | 51.6 | Excluded: thin market |
| Dubbo NSW | House | 2830 | 1.24% | 4.50% | $670,000 | 1080 | 51.6 | Passed; outside top 10 |
| Lavington NSW | House | 2641 | 1.19% | 4.47% | $630,000 | 255 | 51.6 | Passed; outside top 10 |
| Butler WA | House | 6036 | 0.35% | 4.41% | $820,000 | 266 | 50.9 | Passed; outside top 10 |
| Orelia WA | House | 6167 | 0.83% | 4.62% | $675,000 | 100 | 49.1 | Passed; outside top 10 |
| South Mackay QLD | House | 4740 | 1.24% | 5.69% | $628,500 | 135 | 48.8 | Passed; outside top 10 |
| Kangaroo Flat VIC | House | 3555 | 0.57% | 4.51% | $605,000 | 209 | 46.1 | Passed; outside top 10 |
| Mount Austin NSW | House | 2650 | 1.05% | 4.61% | $533,674 | 96 | 45.5 | Passed; outside top 10 |
| Baldivis WA | House | 6171 | 0.63% | 4.06% | $827,000 | 889 | 45.3 | Excluded: yield below 4.3% and no qualifying route |
| Smithfield SA | House | 5114 | 0.88% | 4.61% | $655,000 | 53 | 44.4 | Passed; outside top 10 |
| Grafton NSW | House | 2460 | 0.69% | 5.38% | $560,000 | 232 | 43.7 | Passed; outside top 10 |
| Elizabeth South SA | House | 5112 | 0.76% | 4.34% | $560,000 | 55 | 42.1 | Passed; outside top 10 |
| Portland VIC | House | 3305 | 1.29% | 5.31% | $470,000 | 225 | 41.0 | Excluded: single-industry town |
| Paralowie SA | House | 5108 | 0.52% | 4.15% | $755,000 | 249 | 40.2 | Excluded: yield below 4.3% and no qualifying route |
| Davoren Park SA | House | 5113 | 0.92% | 4.35% | $610,000 | 198 | 40.1 | Passed; outside top 10 |
| Blakeview SA | House | 5114 | 0.88% | 4.21% | $700,000 | 180 | 40.0 | Excluded: yield below 4.3% and no qualifying route |
| Armidale NSW | House | 2350 | 2.85% | 4.38% | $640,000 | 645 | 36.1 | Excluded: vacancy above 1.5% |
| Munno Para SA | House | 5115 | 1.62% | 4.29% | $665,000 | 173 | 32.2 | Excluded: vacancy above 1.5%, yield below 4.3% and no qualifying route |
| Manunda QLD | Unit | 4870 | 0.64% | 6.28% | $357,000 | 97 | 75.0 | Ranked #1 |
| Woree QLD | Unit | 4868 | 0.47% | 7.28% | $320,000 | 83 | 74.4 | Ranked #2 |
| Bakewell NT | Unit | 0832 | 0.30% | 7.26% | $395,000 | 70 | 74.3 | Ranked #3 |
| Manoora QLD | Unit | 4870 | 0.64% | 6.19% | $390,000 | 108 | 71.4 | Passed; one-per-postcode rule |
| Geraldton WA | Unit | 6530 | 0.86% | 5.84% | $356,000 | 45 | 71.4 | Ranked #4 |
| Nightcliff NT | Unit | 0810 | 0.34% | 7.23% | $391,250 | 119 | 71.3 | Ranked #5 |
| Kalgoorlie WA | Unit | 6430 | 0.55% | 8.94% | $421,250 | 40 | 70.8 | Excluded: single-industry town |
| Westcourt QLD | Unit | 4870 | 0.64% | 5.91% | $407,500 | 81 | 70.1 | Passed; one-per-postcode rule |
| Hermit Park QLD | Unit | 4812 | 0.66% | 5.43% | $380,000 | 49 | 69.8 | Ranked #6 |
| Rapid Creek NT | Unit | 0810 | 0.34% | 6.96% | $440,000 | 85 | 69.6 | Passed; one-per-postcode rule |
| Coconut Grove NT | Unit | 0810 | 0.34% | 7.58% | $415,000 | 85 | 68.7 | Passed; one-per-postcode rule |
| Cairns North QLD | Unit | 4870 | 0.64% | 5.99% | $437,500 | 236 | 67.3 | Passed; one-per-postcode rule |
| Stuart Park NT | Unit | 0820 | 0.44% | 7.06% | $480,000 | 137 | 66.9 | Passed; two-per-region rule |
| Cannington WA | Unit | 6107 | 0.49% | 5.61% | $625,000 | 125 | 65.7 | Ranked #7 |
| Midland WA | Unit | 6056 | 0.67% | 5.50% | $570,000 | 121 | 65.4 | Ranked #8 |
| Lavington NSW | Unit | 2641 | 1.19% | 5.28% | $397,000 | 80 | 64.4 | Ranked #9 |
| Mount Gambier SA | Unit | 5290 | 0.37% | 4.59% | $424,000 | 111 | 64.2 | Ranked #10 |
| Beckenham WA | Unit | 6107 | 0.49% | 5.60% | $540,000 | 46 | 63.7 | Passed; one-per-postcode rule |
| Newnham TAS | Unit | 7248 | 0.63% | 5.49% | $420,000 | 47 | 63.1 | Passed; outside top 10 |
| West End (Townsville) QLD | Unit | 4810 | 1.22% | 5.51% | $445,000 | 72 | 63.0 | Passed; outside top 10 |
| Salisbury SA | Unit | 5108 | 0.52% | 5.05% | $525,000 | 67 | 62.4 | Passed; outside top 10 |
| Mackay QLD | Unit | 4740 | 1.24% | 6.07% | $402,000 | 148 | 61.8 | Passed; outside top 10 |
| South Mackay QLD | Unit | 4740 | 1.24% | 6.06% | $445,000 | 43 | 61.8 | Passed; outside top 10 |
| North Mackay QLD | Unit | 4740 | 1.24% | 5.38% | $430,000 | 31 | 60.8 | Passed; outside top 10 |
| Warrnambool VIC | Unit | 3280 | 0.99% | 5.12% | $475,000 | 92 | 60.0 | Passed; outside top 10 |
| Logan Central QLD | Unit | 4114 | 0.45% | 4.61% | $506,000 | 52 | 59.8 | Passed; outside top 10 |
| Morphett Vale SA | Unit | 5162 | 0.12% | 4.36% | $602,500 | 88 | 59.4 | Passed; outside top 10 |
| Devonport TAS | Unit | 7310 | 0.66% | 5.34% | $413,500 | 78 | 58.7 | Passed; outside top 10 |
| Darwin City NT | Unit | 0800 | 1.06% | 7.68% | $450,000 | 375 | 57.3 | Passed; two-per-region rule |
| Balga WA | Unit | 6061 | 0.39% | 5.36% | $690,000 | 90 | 53.7 | Passed; outside top 10 |
| Orange NSW | Unit | 2800 | 0.71% | 5.07% | $495,000 | 83 | 52.7 | Passed; outside top 10 |
| Dubbo NSW | Unit | 2830 | 1.24% | 5.43% | $416,500 | 45 | 51.8 | Passed; outside top 10 |
| Woolloongabba QLD | Unit | 4102 | 1.18% | 4.52% | $785,000 | 169 | 49.7 | Passed; outside top 10 |
| Wagga Wagga NSW | Unit | 2650 | 1.05% | 5.13% | $441,250 | 64 | 49.0 | Passed; outside top 10 |
| Geelong West VIC | Unit | 3218 | 1.39% | 4.42% | $589,444 | 58 | 46.7 | Passed; outside top 10 |
| Armidale NSW | Unit | 2350 | 2.85% | 5.70% | $400,000 | 95 | 46.5 | Excluded: vacancy above 1.5% |
| Woodville SA | Unit | 5011 | 0.64% | 4.69% | $620,000 | 21 | 43.5 | Excluded: thin market |
| Mandurah WA | Unit | 6210 | 1.38% | 4.84% | $560,000 | 212 | 42.1 | Passed; outside top 10 |
| Tamworth NSW | Unit | 2340 | 2.04% | 5.11% | suppressed | 2 | 28.4 | Excluded: vacancy above 1.5%, thin market |
| Bendigo, Kennington VIC | House | 3550 | 1.68% | — | — | — | — | Excluded: vacancy above 1.5% |
| Gladstone QLD | House | 4680 | 1.68% | — | — | — | — | Excluded: vacancy above 1.5% |
| Tamworth (West, South, East) NSW | House | 2340 | 2.04% | 4.38–5.35% | $500K–$720K | — | — | Excluded: vacancy above 1.5% |
| Whyalla Norrie / Whyalla Stuart SA | House | 5600/5608 | 2.55% / 1.71% | — | — | — | — | Excluded: vacancy above 1.5% |
| Broken Hill NSW | House | 2880 | 1.60% | 8.55% | $240,000 | 606 | — | Excluded: vacancy above 1.5% |
| Moree NSW | House | 2400 | 2.02% | — | — | — | — | Excluded: vacancy above 1.5% |
| Bucasia QLD | House | 4750 | 2.48% | — | — | — | — | Excluded: vacancy above 1.5% |
| Shepparton VIC | House | 3630 | 2.39% | — | — | — | — | Excluded: vacancy above 1.5% |
| Hervey Bay QLD | House | 4655 | 2.15% | — | — | — | — | Excluded: vacancy above 1.5% |
| Pinjarra WA | House | 6208 | 2.87% | — | — | — | — | Excluded: vacancy above 1.5% |
| Mandurah WA | House | 6210 | 1.38% | 4.34% | $643,250 | 290 | — | Screened; unit segment scored instead |
| Harlaxton QLD (Toowoomba) | House | 4350 | 0.58% | 4.13% | $687,500 | 66 | — | Excluded: yield below 4.3% and no verified catalyst |
| Other Toowoomba suburbs (Harristown, Newtown, Wilsonton, Kearneys Spring, Glenvale) | House | 4350 | 0.58% | 3.6–4.04% | $700K–$935K | — | — | Excluded: yield below 4.3% |
| Ballarat suburbs (Redan, Ballarat East, Wendouree, Alfredton) | House | 3350/3355 | 0.92% / 0.58% | 3.66–4.26% | — | — | — | Excluded: yield below 4.3% |
| Adelaide south (Hackham, Hackham West, Huntfield Heights, Christie Downs, Seaford Meadows, Noarlunga Downs) | House | 5163–5169 | 0.15–0.50% | 4.01–4.23% | $745K–$830K | — | — | Excluded: yield below 4.3% |
| Perth outer (Kelmscott, Cooloongup, Coodanup, Greenfields) | House | 6111/6168/6210 | — | 4.02–4.26% | $680K–$750K | — | — | Excluded: yield below 4.3% |
| Thin unit markets (Cranbrook, Aitkenvale, Mundingburra, Bundaberg South, Koongal, Berserker, Invermay, East Devonport, Portland, Bridgewater) | Unit | various | — | — | — | under 30 | — | Excluded: thin market |
| Mining-town leads (Mount Isa, Pilbara towns, Kambalda East, Dysart, Blackwater, Clermont, Cloncurry, Roxby Downs, Queenstown, Zeehan) | Both | various | — | — | — | — | — | Excluded before scoring: single-industry towns |
Source: our PIS v2.0 scoring, 25 September 2026. The scoring script is kept with our research files so every score can be reproduced.
Data as at
- Suburb data: Cotality via Your Investment Property, fetched 25 September 2026 (medians, sold-median change, sales and days on market for the 12 months to 30 June 2026; rents and value-based gross yields as at 31 August 2026), cross-checked with OnTheHouse (Cotality modelled values), REIWA for WA, and propertyvalue.com.au panels for 21 suburbs captured on 25 September 2026.
- Vacancy: SQM Research postcode series, August 2026. Sale conditions: PropTrack SA4 tables, three months to July 2026.
- Market data: Cotality HVI August 2026; Cotality daily index to 25 September; Cotality final clearance to week ending 20 September; ASX futures 24 September; bank calls to 21 September.
- Analysis reflects information available as of 25 September 2026.
This article provides general information only and doesn't constitute financial, tax or investment advice. It doesn't consider your objectives, financial situation or needs. Suburb-level data can change quickly and differs between sources. Do your own due diligence on any specific property and seek advice from a licensed professional before acting.
Data sources
Suburb and rental data
- Your Investment Property suburb profiles (Cotality data), fetched 25 September 2026
- OnTheHouse suburb profiles (Cotality), fetched 25 September 2026
- propertyvalue.com.au suburb insight panels (Cotality), captured 25 September 2026
- SQM Research postcode vacancy, August 2026
- REIWA suburb profiles, calendar 2026 to date
- PropTrack SA4 home price tables, three months to July 2026
Market data
- Cotality Home Value Index, September 2026 release · Cotality daily index · Cotality final clearance rates, week ending 20 September 2026 · Cotality Property Market Indicator Summary, week ending 20 September 2026
- Westpac Market Outlook, September 2026 · NAB Housing Monitor, September 2026 · ASX RBA Rate Tracker
- The Daily Telegraph, 20 September 2026, reporting FoundIt's Listings Surge September 2026 report
Policy and SMSF
- ATO: Changes to limited recourse borrowing arrangements (28 July 2026)
- Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (legislation.gov.au)
Catalysts
- Metro South Health: Logan Hospital expansion · EnergyCo: New England REZ · New Bridgewater Bridge opens · UTAS Inveresk campus · Geraldton Health Campus complete · Bunbury Regional Hospital · Rockhampton Ring Road · Cairns Hospital expansion · Albury Wodonga Regional Hospital update · CopperString · Darwin Ship Lift · Palmerston Regional Hospital opens (ABC, 27 August 2018) · CDU city campus opening · TasPorts: Devonport East · The Examiner, 7 August 2026 (TT-Line Spirit Quay timing) · ABC, 1 June 2026 (Darwin Ship Lift cost) · Cross River Rail
Earlier editions: August 2026 · May 2026 · April 2026 · Top suburbs hub
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