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Hottest 100 suburbs to buy property in 2023

Eliza Bavin
·Personal Finance Editor
Updated ·3-min read
A composite image of a home in an Australian suburbs with a for sale sign out the front and Australian currency.
These Aussie suburbs are looking to be hot commodities next year. (Source: AAP/Getty) (Getty/AAP)

It was a crazy year for the property market in 2022 - reaching the highest of highs, which promptly turned around when interest rates started rising in May.

But potential buyers are still keen and next year there are a number of suburbs in the spotlight, according to new research from realestate.com.au (REA).

PropTrack director of economic research Cameron Kusher said market uncertainty had increased in recent months due to the Reserve Bank's aggressive approach to interest rates.

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“Despite the rapid increases in rates through 2022 and subsequently reduced borrowing capacities and lower home prices, there are still plenty of suburbs that offer great opportunities,” Kusher said.

“That’s why it’s imperative that anyone thinking of buying does their own research to understand what drives a local market and how it is likely to evolve over the coming years.”

The top 100 suburbs were selected based on various mid- and long-term growth drivers, including:

  • Affordability - either low prices suiting buyers on a budget or relative affordability compared to nearby suburbs

  • Amenity - the level of lifestyle pluses, from bars and restaurants to boutiques and parklands

  • Family appeal - such as dwelling type, perceived safety and proximity to good schools

  • Location - including proximity to the CBD or major hubs, or closeness to natural amenities like beaches

  • Investment prospects - from rental market conditions to expected imminent upside

  • Gentrification - the changing face of a suburb

  • Population growth - representing a projected increase in the number of locals

  • Demographic change - indicating a shift from the current make-up of residents, for example young families replacing downsizing elderly locals

  • Infrastructure - looking at major investments in projects that will benefit the suburb or surrounds

New South Wales top suburbs in 2023

  • Alexandria

  • Arncliffe

  • Ashfield

  • Cessnock

  • Claremont Meadows

  • East Tamworth

  • Frenchs Forest

  • Glenmore Park

  • Hurlstone Park

  • Kingsford

  • Kingswood

  • Marrickville

  • Matraville

  • Mayfield

  • Mona Vale

  • New Lambton

  • Paddington

  • Prestons

  • Quakers Hill

  • South Penrith

  • St Clair

  • Turramurra

  • Tweed Heads

  • Yamba

Victoria top suburbs in 2023

  • Alfredton

  • Altona

  • Ballarat Central

  • Balwyn North

  • Belmont

  • Berwick

  • Bundoora

  • Cranbourne

  • Dandenong North

  • Deer Park

  • Ferntree Gully

  • Footscray

  • Forest Hill

  • Frankston

  • Geelong West

  • Glenroy

  • Hadfield

  • Heidelberg Heights

  • Highett

  • Kangaroo Flat

  • Keilor East

  • Kennington

  • North Melbourne

  • Pakenham

  • Reservoir

  • Ringwood

  • Sunshine West

  • Sydenham

  • Taylors Lakes

Queensland top suburbs in 2023

  • Bli Bli

  • Boondall

  • Bracken Ridge

  • Burleigh Heads

  • Crestmead

  • Deception Bay

  • Eagleby

  • Glenvale

  • Harristown

  • Kearneys Spring

  • Kelvin Grove

  • Mermaid Waters

  • Morayfield

  • Nambour

  • Petrie

  • The Range

  • Redbank Plains

  • Rothwell

  • Sippy Downs

  • Springfield Lakes

  • Toowong

  • Woolloongabba

  • Yamanto

South Australia top suburbs in 2023

  • Blakeview

  • Brooklyn Park

  • Christies Beach

  • Craigmore

  • Kensington

  • St Marys

  • Thebarton

  • Torrensville

  • Woodcroft

Western Australia top suburbs in 2023

  • Butler

  • Carlisle

  • Cottesloe

  • Joondalup

  • Mandurah

  • Subiaco

  • Wembley

Australian Capital Territory top suburbs in 2023

  • Curtin

  • Narrabundah

  • Red Hill

  • Scullin

  • Watson

Tasmania top suburbs in 2023

  • North Hobart

Northern Territory top suburbs in 2023

  • Bayview

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