How does NextSuburb rank Australian suburbs?

We score every suburb 0–100 across eight investment-grade signals — capital growth, population growth, supply tightening, rental yield, vacancy rate, income growth, infrastructure pipeline exposure and affordability headroom — then weight them by the strategy you choose (Growth, Balanced, or Yield).

What data sources do you use?

ABS, ATO, SQM Research, Domain, realestate.com.au and the infrastructure portals of every state and territory. Full list and update cadence on /sources.

Is NextSuburb financial advice?

No. NextSuburb is a screening tool. Scores describe how well a suburb fits a filter today — not a forecast and not a recommendation to buy.

How often is the data updated?

Full dataset rebuilt monthly. Listings, vacancy and rent monthly. ABS and ATO annually. Infrastructure quarterly.

Why is NextSuburb free?

Because the data underneath it is mostly public. We'll launch a paid pro tier with saved alerts and deeper analytics — the core suburb screen will stay free.

Best Australian suburbs to invest in.

Name: NextSuburb AU Suburb Investment Index
Creator: NextSuburb
License: https://creativecommons.org/licenses/by/4.0/

Tell us your budget and strategy. Get the three best suburbs for your filter in 30 seconds — scored across eight investment-grade signals. Free. No signup.

9,375 suburbs · ABS · ATO · SQM Research · Domain · realestate.com.au · State infrastructure authorities

Your recommended picks

Best buys under $400k

Best overall pick for you

🥇Balanced pick

Stawell

Best all-rounder on the index — no single dimension dominates and none lags.

Why it wins · Most balanced profile in your filter — +1 pts over Ararat.

Stable entry pointVIC · 3380$315k median

54Moderate

View whyDetails

Drivers

Capital growth10.8%/yr
Population growth+7.8% (5y)
Rental yield3.5%

Risks

No major construction project in this state

Closest construction ·Melbourne Airport Rail — Sunshine Hub198.9 kmApproved · 2033

Northern Grampians · scored against your filter

Open detail page →

🥈Secondary pickGrowth

Morwell

65Strong

11.9%/yr capital growth with population +7.8% over five years.

VIC · $314kView why

Drivers

Capital growth11.9%/yr
Population growth+7.8% (5y)
Rental yield3.6%

Risks

No major construction project in this state

Stable entry point

Open →

🥉Alternative pickYield

Travancore

69Strong

5.2% yield in a tight rental market — 1.3% vacancy backs the cashflow.

VIC · $350kView why

Drivers

Rental yield5.2%
Supply tightening-7.0% YoY
Income growth+21.0% (5y)
Population growth+7.8% (5y)

Risks

Modest 5y growth (-3.9%/yr)
No major construction project in this state

Late-cycle hold

Open →

Score legend · 0–40 weak · 40–60 moderate · 60–75 strong · 75+ exceptional. Scores blend growth, yield, demand and infrastructure signals against your strategy. Full methodology →

WeakModerateStrongStandoutExceptional

040607585+

Last updated May 2026Next refresh 3 June 2026Informational only — not financial advice

Compare Morwell · Travancore · Stawell side-by-side under $400kCompare picks

9,375 suburbs · 0 investors this month · 0 shortlists saved

Explore the full ranking

All ranked suburbs

Top 30 VIC suburbs under $400k

Why am I seeing this? Ranked across every suburb that fits your filter — click any card for the full breakdown.

How is this calculated?

We score every suburb 0–100 against eight benchmarks a working buyer's agent watches: capital growth, rental yield, vacancy, listings trend, population growth, income growth, budget headroom, and the construction pipeline within reach.

The composite is a weighted average. The Top Picks above re-rank under a Growth-tilted, Yield-tilted, and Balanced scheme so each investor profile gets a single recommendation.

WeakModerateStrongStandoutExceptional

040607585+

Market mode

Base market Infrastructure-weighted ⭐

Sort

$81.7B infrastructure pipeline influencing demand across key corridorsSee impact

Tier CC — ModerateScore 40–5918 suburbs

#1
Morwell
11.9%/yr capital growth, population +7.8% (5y).
5y growth · 11.9%/yr
11.9%/yr 5y growth
55
Growth🟢 Under budget
Drivers
Capital growth11.9%/yr
Population growth+7.8% (5y)
Rental yield3.6%
Risks
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley116.0 kmConstruction · 2035
3840 · Latrobe (Vic.)Compare investment case
#2
Stawell
10.8%/yr capital growth, population +7.8% (5y).
5y growth · 10.8%/yr
10.8%/yr 5y growth
54
Growth🟢 Under budget
Drivers
Capital growth10.8%/yr
Population growth+7.8% (5y)
Rental yield3.5%
Risks
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub198.9 kmApproved · 2033
3380 · Northern GrampiansCompare investment case
#3
Ararat
8.9%/yr capital growth, 3.9% gross yield.
Growth + yield · 8.9% · 3.9%
8.9%/yr 5y growth
53
Balanced🟢 Under budget
Drivers
Capital growth8.9%/yr
Rental yield3.9%
Population growth+7.8% (5y)
Risks
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub176.5 kmApproved · 2033
3377 · Northern GrampiansCompare investment case
#4
Churchill
13.3%/yr capital growth, population +7.8% (5y).
5y growth · 13.3%/yr
13.3%/yr 5y growth
53
Growth🟢 Under budget
Drivers
Capital growth13.3%/yr
Population growth+7.8% (5y)
Rental yield3.5%
Risks
Only 4,924 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley120.0 kmConstruction · 2035
3842 · Latrobe (Vic.)Compare investment case
#5
Hamilton
11.4%/yr capital growth, population +7.8% (5y).
5y growth · 11.4%/yr
11.4%/yr 5y growth
53
Growth🟡 Near cap
Drivers
Capital growth11.4%/yr
Population growth+7.8% (5y)
Rental yield3.4%
Risks
At top of budget (90% of cap)
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub247.3 kmApproved · 2033
3300 · Southern GrampiansCompare investment case
#6
Moe
10.1%/yr capital growth, population +7.8% (5y).
5y growth · 10.1%/yr
10.1%/yr 5y growth
53
Growth🟢 Under budget
Drivers
Capital growth10.1%/yr
Population growth+7.8% (5y)
Rental yield3.1%
Risks
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley101.9 kmConstruction · 2035
3825 · WellingtonCompare investment case
#7
Mooroopna
9.8%/yr capital growth, population +7.8% (5y).
5y growth · 9.8%/yr
9.8%/yr 5y growth
52
Growth🟡 Near cap
Drivers
Capital growth9.8%/yr
Population growth+7.8% (5y)
Rental yield3.3%
Risks
At top of budget (99% of cap)
No major construction project in this state
Closest construction ·North East Link — Bulleen156.2 kmConstruction · 2028
3629 · Greater SheppartonCompare investment case
#8
Red Cliffs
13.0%/yr capital growth, population +7.8% (5y).
5y growth · 13.0%/yr
13.0%/yr 5y growth
52
Growth🟡 Near cap
Drivers
Capital growth13.0%/yr
Population growth+7.8% (5y)
Rental yield3.1%
Risks
At top of budget (100% of cap)
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub454.0 kmApproved · 2033
3496 · MilduraCompare investment case
#9
Maryborough
8.2%/yr capital growth, population +7.8% (5y).
Growth + yield · 8.2% · 3.6%
8.2%/yr 5y growth
50
Balanced🟢 Under budget
Drivers
Capital growth8.2%/yr
Population growth+7.8% (5y)
Rental yield3.6%
Risks
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub126.4 kmApproved · 2033
3465 · Mount AlexanderCompare investment case
#10
Newborough
8.6%/yr capital growth, population +7.8% (5y).
5y growth · 8.6%/yr
8.6%/yr 5y growth
49
Growth🟡 Near cap
Drivers
Capital growth8.6%/yr
Population growth+7.8% (5y)
Rental yield3.1%
Risks
At top of budget (96% of cap)
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley104.6 kmConstruction · 2035
3825 · WellingtonCompare investment case
#11
Kerang
9.3%/yr capital growth, 3.9% gross yield.
Growth + yield · 9.3% · 3.9%
9.3%/yr 5y growth
48
Balanced🟢 Under budget
Drivers
Capital growth9.3%/yr
Rental yield3.9%
Population growth+7.8% (5y)
Risks
Only 3,960 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub241.3 kmApproved · 2033
3579 · Swan HillCompare investment case
#12
Portland
8.0%/yr capital growth, population +7.8% (5y).
Growth + yield · 8.0% · 3.3%
8.0%/yr 5y growth
48
Balanced🟡 Near cap
Drivers
Capital growth8.0%/yr
Population growth+7.8% (5y)
Rental yield3.3%
Risks
At top of budget (98% of cap)
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub289.6 kmApproved · 2033
3305 · GlenelgCompare investment case
#13
Cobram
population +7.8% (5y), 7.4%/yr capital growth.
Growth + yield · 7.4% · 3.3%
7.4%/yr 5y growth
47
Balanced🟡 Near cap
Drivers
Population growth+7.8% (5y)
Capital growth7.4%/yr
Rental yield3.3%
Risks
At top of budget (97% of cap)
No major construction project in this state
Closest construction ·North East Link — Bulleen207.0 kmConstruction · 2028
3643 · MoiraCompare investment case
#14
Travancore
5.2% gross yield, listings tightening 7.0% YoY.
Gross yield · 5.2%
1.3% vacancy
47
Yield🟢 Under budget
Drivers
Rental yield5.2%
Supply tightening-7.0% YoY
Income growth+21.0% (5y)
Population growth+7.8% (5y)
Risks
Modest 5y growth (-3.9%/yr)
No major construction project in this state
Closest construction ·Metro Tunnel — Parkville Station2.2 kmRecently completed · 2025
3032 · MaribyrnongCompare investment case
#15
Bairnsdale
population +7.8% (5y), 3.8% gross yield.
Growth + yield · 6.2% · 3.8%
6.2%/yr 5y growth
46
Balanced🟡 Near cap
Drivers
Population growth+7.8% (5y)
Rental yield3.8%
Capital growth6.2%/yr
Risks
At top of budget (93% of cap)
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley215.4 kmConstruction · 2035
3875 · East GippslandCompare investment case
#16
Caulfield East
5.2% gross yield, listings tightening 6.0% YoY.
Gross yield · 5.2%
1.4% vacancy
46
Yield🟢 Under budget
Drivers
Rental yield5.2%
Supply tightening-6.0% YoY
Population growth+7.8% (5y)
Income growth+19.0% (5y)
Risks
Modest 5y growth (-10.3%/yr)
No major construction project in this state
Closest construction ·Metro Tunnel — Anzac Station7.5 kmRecently completed · 2025
3145 · Glen EiraCompare investment case
#17
Horsham
4.2% gross yield, population +7.8% (5y).
Gross yield · 4.2%
2.6%/yr 5y growth
40
Yield🟢 Under budget
Drivers
Rental yield4.2%
Population growth+7.8% (5y)
Risks
Modest 5y growth (2.6%/yr)
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub262.8 kmApproved · 2033
3400 · HorshamIn compare set
#18
Warracknabeal
15.9%/yr capital growth, population +7.8% (5y).
5y growth · 15.9%/yr
15.9%/yr 5y growth
40
Growth🟢 Under budget
Drivers
Capital growth15.9%/yr
Population growth+7.8% (5y)
Rental yield3.8%
Risks
Only 2,359 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub275.6 kmApproved · 2033
3393 · HindmarshCompare investment case

Tier DD — Below trendScore <4012 suburbs

#19
Merbein
11.2%/yr capital growth, population +7.8% (5y).
5y growth · 11.2%/yr
11.2%/yr 5y growth
39
Growth🟢 Under budget
Drivers
Capital growth11.2%/yr
Population growth+7.8% (5y)
Rental yield3.1%
Risks
Only 2,770 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub474.5 kmApproved · 2033
3505 · MilduraCompare investment case
#20
Robinvale
population +7.8% (5y), 3.6% gross yield.
Growth + yield · 6.4% · 3.6%
6.4%/yr 5y growth
39
Balanced🟢 Under budget
Drivers
Population growth+7.8% (5y)
Rental yield3.6%
Capital growth6.4%/yr
Risks
Only 3,497 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub400.5 kmApproved · 2033
3549 · Swan HillCompare investment case
#21
Rochester
9.3%/yr capital growth, population +7.8% (5y).
5y growth · 9.3%/yr
9.3%/yr 5y growth
39
Growth🟡 Near cap
Drivers
Capital growth9.3%/yr
Population growth+7.8% (5y)
Risks
Only 3,154 residents — illiquid, slow to sell
At top of budget (99% of cap)
Closest construction ·Melbourne Airport Rail — Sunshine Hub158.3 kmApproved · 2033
3561 · CampaspeIn compare set
#22
Sunnycliffs
4.4% gross yield, population +7.8% (5y).
Gross yield · 4.4%
4.7%/yr 5y growth
39
Yield🟢 Under budget
Drivers
Rental yield4.4%
Population growth+7.8% (5y)
Risks
Only 0 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub455.9 kmApproved · 2033
3496 · MilduraCompare investment case
#23
Nhill
19.2%/yr capital growth, population +7.8% (5y).
5y growth · 19.2%/yr
19.2%/yr 5y growth
38
Growth🟢 Under budget
Drivers
Capital growth19.2%/yr
Population growth+7.8% (5y)
Rental yield3.2%
Risks
Only 2,401 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub325.2 kmApproved · 2033
3418 · West WimmeraCompare investment case
#24
Numurkah
population +7.8% (5y), 3.8% gross yield.
Gross yield · 3.8%
2.8%/yr 5y growth
38
Yield🟢 Under budget
Drivers
Population growth+7.8% (5y)
Rental yield3.8%
Risks
Only 4,604 residents — illiquid, slow to sell
Modest 5y growth (2.8%/yr)
Closest construction ·North East Link — Bulleen189.9 kmConstruction · 2028
3636 · MoiraCompare investment case
#25
Long Gully
population +7.8% (5y), 3.4% gross yield.
Growth + yield · 6.5% · 3.4%
6.5%/yr 5y growth
37
Balanced🟡 Near cap
Drivers
Population growth+7.8% (5y)
Rental yield3.4%
Capital growth6.5%/yr
Risks
Only 3,420 residents — illiquid, slow to sell
At top of budget (96% of cap)
Closest construction ·Melbourne Airport Rail — Sunshine Hub126.7 kmApproved · 2033
3550 · Greater BendigoCompare investment case
#26
Cohuna
12.9%/yr capital growth, population +7.8% (5y).
5y growth · 12.9%/yr
12.9%/yr 5y growth
36
Growth🟡 Near cap
Drivers
Capital growth12.9%/yr
Population growth+7.8% (5y)
Risks
Only 2,415 residents — illiquid, slow to sell
At top of budget (94% of cap)
Closest construction ·Melbourne Airport Rail — Sunshine Hub226.1 kmApproved · 2033
3568 · GannawarraCompare investment case
#27
Orbost
13.5%/yr capital growth, population +7.8% (5y).
5y growth · 13.5%/yr
13.5%/yr 5y growth
36
Growth🟢 Under budget
Drivers
Capital growth13.5%/yr
Population growth+7.8% (5y)
Risks
Only 2,264 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Suburban Rail Loop East — Glen Waverley290.7 kmConstruction · 2035
3888 · East GippslandCompare investment case
#28
Donald
12.1%/yr capital growth, 3.9% gross yield.
5y growth · 12.1%/yr
12.1%/yr 5y growth
34
Growth🟢 Under budget
Drivers
Capital growth12.1%/yr
Rental yield3.9%
Population growth+7.8% (5y)
Risks
Only 1,472 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub227.5 kmApproved · 2033
3480 · YarriambiackCompare investment case
#29
Heyfield
14.6%/yr capital growth, population +7.8% (5y).
5y growth · 14.6%/yr
14.6%/yr 5y growth
34
Growth🟡 Near cap
Drivers
Capital growth14.6%/yr
Population growth+7.8% (5y)
Risks
Only 2,050 residents — illiquid, slow to sell
At top of budget (96% of cap)
Closest construction ·Suburban Rail Loop East — Glen Waverley143.1 kmConstruction · 2035
3858 · MansfieldCompare investment case
#30
Heywood
9.1%/yr capital growth, population +7.8% (5y).
5y growth · 9.1%/yr
9.1%/yr 5y growth
34
Growth🟢 Under budget
Drivers
Capital growth9.1%/yr
Population growth+7.8% (5y)
Rental yield3.4%
Risks
Only 1,815 residents — illiquid, slow to sell
No major construction project in this state
Closest construction ·Melbourne Airport Rail — Sunshine Hub284.4 kmApproved · 2033
3304 · MoyneCompare investment case

Decision driver · 8 projects tracked

How infrastructure changes your results

Infrastructure is the largest medium-term driver of suburb-level house prices in Australia. Every project below is mapped to a location, value, and stage — and counted against any suburb inside its impact radius.

Flip Market mode in the customizer to double the construction-pipeline weighting and see which suburbs climb the ranking. The $81.7B VIC pipeline below is what drives that effect.

What this means for prices

Expect demand uplift over the next 3–5 years as rail and connectivity projects open up new commuter catchments.

Pipeline value

$81.7bn

Construction

Approved

Planned

Top 3 by value

road
North East Link — Bulleen
$16.5bn
Construction · 2028
metro
Metro Tunnel — Anzac Station
$13.5bn
Recently completed · 2025
metro
Metro Tunnel — Parkville Station
$13.5bn
Recently completed · 2025

See full VIC infrastructure list (8)

Compare 2/3HorshamRochester

Compare investment cases

Tell us how you’d invest. We’ll do the ranking.

Your recommended picks

Top 30 VIC suburbs under $400k

Tier CC — Moderate·Score 40–59·18 suburbs

Tier DD — Below trend·Score <40·12 suburbs

North East Link — Bulleen

Metro Tunnel — Anzac Station

Metro Tunnel — Parkville Station

Tier CC — ModerateScore 40–5918 suburbs

Tier DD — Below trendScore <4012 suburbs