A new analysis from Propell Property has identified five regions across Australia where small-scale developments such as duplexes could deliver both strong capital growth and solid cash flow in the years ahead.
The report highlights Moreton Bay, Ipswich and the Gold Coast in Queensland, along with Northern New South Wales and Geelong in Victoria, as areas where market fundamentals remain strong and housing supply is lagging behind population growth.
Propell Property Managing Director Michael Pell said all five regions were ripe for fresh investment and well-planned development. “We are currently helping clients purchase land in every one of these locations, with many opting to construct two attached dwellings on two titles fairly quickly, which not only adds to rental stock but also increases the overall supply of housing in the area, too,” he said.
He added that investors with budgets ranging between $800,000 and $2 million could successfully pursue this strategy, provided they work with experienced professionals. “It isn’t for novices – unless they work with people who have plenty of experience under their belts,” Pell said.
According to Propell’s analysis, Geelong stands out as a key opportunity for investors with budgets above $600,000. Pell said the regional city was “currently at the bottom of its market cycle” and close to high-demand coastal locations such as Torquay, Bells Beach and Lorne. “On top of that, Geelong is only an hour from Melbourne, with strong demand from homebuyers and investors,” he said. “Geelong offers the possibility of significant capital growth and strong cash flow well into the future.”
On the Gold Coast, investors with budgets over $1.2 million are showing strong interest amid limited supply. “The Gold Coast has so much to offer, including incredibly strong projected population growth over the next 10 years,” Pell said. “When it comes to strategic property development, though, you couldn’t ask for a better location given the coast is so land-locked, with the hinterland on one side and the ocean on the other.” He noted that talk of lowering minimum lot sizes could further encourage duplex construction.
Ipswich, west of Brisbane, is another region on the move, Pell said, comparing it to “what Parramatta was to Sydney in 2000”. With forecasts pointing to the fastest population growth in Queensland and major infrastructure underway—including a new train line into Ripley and an upgraded highway to Brisbane—Ipswich is poised for transformation. “Western Brisbane is set to fundamentally change in the years ahead, with the smartest property buyers making their moves now,” he said.
In Moreton Bay, investors with budgets from $800,000 to $1.3 million are exploring small-scale projects. “Moreton Bay has extraordinarily strong population growth forecast for the years ahead, which will continue to put upward pressure on its property market,” Pell said. Propell has been active in the area, helping clients develop duplexes on 500 to 600 square metre lots, particularly in suburbs like Morayfield and Narangba.
Finally, Northern New South Wales—from Yamba to Kingscliff and Cabarita Beach—is drawing increased attention from investors with budgets above $1 million. “Sure, the price points are higher in this region, but the supply of new dwellings has generally been underwhelming for many years,” Pell said. The region is benefiting from lifestyle-driven migration out of Sydney, with many buyers seeking more space and remote-working flexibility. “They are prioritising lifestyle and family time and these pristine coastal areas give them the opportunity to achieve both,” he said.
Propell’s findings point to a clear theme: small, well-managed developments in high-growth corridors continue to offer strong potential for investors who combine local knowledge with sound financial strategy.
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