The capital cities are tipped to outperform regional markets this year according to the annual Canstar’s Rising Stars Report.

The report, powered by Hotspotting, analysed Australia’s key 14 property markets – eight capital cities and six regional areas – to identify the markets primed for property price growth in 2024.

Canstar ambassador Effie Zahos says while the regions have certainly experienced strong price growth in recent years it is now time for capital cities to shine.

“The allure of urban living is piquing our interest again,” she says.

She says that’s not to say there aren’t regional markets worth investing in, but our attention is turning back to the capital cities where pockets of affordability remain with all the benefits that come with urban living.

The report highlights 110 ‘Rising Star’ locations with impressive sales volumes, solid price growth, low vacancy rates and high rental growth, plus infrastructure spending and planned amenities.

This year there is a higher number of unit markets reflecting the growing shift toward more affordable units.

Brisbane tops the list of suburbs in 2024 as having the best prospects for future capital growth, followed by Adelaide and Sydney. Queensland is the top regional market.