Programmatic ranking · 2026

Best VIC suburbs to invest in under $400K

30 suburbs match this filter today. Average 5-year capital growth across them is 8.8%/yr; average gross yield is 3.6%. The dominant signal right now is capital growth — Average 5-year capital growth in this filter is driving the ranking. Top pick: Morwell (55/100). 11.9%/yr capital growth, population +7.8% (5y).

Last updated: May 2026.

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 →

  1. #1

    Morwell

    11.9%/yr capital growth, population +7.8% (5y).

    5y growth · 11.9%/yr
    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. #2

    Stawell

    10.8%/yr capital growth, population +7.8% (5y).

    5y growth · 10.8%/yr
    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. #3

    Ararat

    8.9%/yr capital growth, 3.9% gross yield.

    Growth + yield · 8.9% · 3.9%
    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. #4

    Churchill

    13.3%/yr capital growth, population +7.8% (5y).

    5y growth · 13.3%/yr
    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. #5

    Hamilton

    11.4%/yr capital growth, population +7.8% (5y).

    5y growth · 11.4%/yr
    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. #6

    Moe

    10.1%/yr capital growth, population +7.8% (5y).

    5y growth · 10.1%/yr
    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. #7

    Mooroopna

    9.8%/yr capital growth, population +7.8% (5y).

    5y growth · 9.8%/yr
    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. #8

    Red Cliffs

    13.0%/yr capital growth, population +7.8% (5y).

    5y growth · 13.0%/yr
    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. #9

    Maryborough

    8.2%/yr capital growth, population +7.8% (5y).

    Growth + yield · 8.2% · 3.6%
    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. #10

    Newborough

    8.6%/yr capital growth, population +7.8% (5y).

    5y growth · 8.6%/yr
    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

Other budgets in VIC

Same budget, other states

Want to customise this filter?

Open the customizer with this state and budget pre-filled.

Open the customizer