The 8 Best Places in Victoria to Buy Property Through Your SMSF (2025 Edition)

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Property investment through a Self-Managed Super Fund (SMSF) is not a short-term game. As conveyancers, we assess the property market and contract structures — not your personal financial goals. You should always seek advice from a licensed financial adviser before making any SMSF investment decisions. The decisions made today may not mature for a decade or more, and the wrong call can tie up hundreds of thousands of retirement dollars in stagnant, underperforming assets.

At Victorian Property Settlements, we regularly assist clients navigating the SMSF property purchase process across Victoria. We’ve observed the suburbs where long-term capital growth aligns with strong rental income and strategic infrastructure planning. And we’ve also seen plenty of funds get it wrong — buying in the wrong market, the wrong stage, or under the wrong structure.

This article sets out eight Victorian locations we believe offer some of the strongest prospects for SMSF investors in 2025. We examine not only what’s attractive now, but what makes these areas sustainable from a 10–15 year outlook — because super isn’t just about the next tenant, it’s about what your property looks like the day you retire.

1. Glen Waverley (Melbourne East)

Why it’s good for SMSFs:

  • Blue-chip suburb with ongoing buyer demand from families and overseas investors

  • Home to Glen Waverley Secondary College, a perennial drawcard for renters

  • The new Suburban Rail Loop station will add a significant long-term uplift

Long-term view: Glen Waverley has already proven itself as a resilient performer across all market cycles. While the entry price may be higher than outer suburbs, the rental demand is consistent, and vacancy is rare.

Risks:

  • High buy-in price can limit diversification for smaller SMSFs

  • Oversupply of townhouses may cap value uplift if not carefully selected. This suburb may top the list for growth potential, but many SMSFs will simply be priced out due to the high base cost of entry and the typical fund balance. It's also worth noting that Glen Waverley sits on the new Suburban Rail Loop corridor, which, while promising future infrastructure gains, carries the risk of exposure to the uplifted windfall gains tax on rezoned or strategically identified land.

2. Keilor East (North-West Metro Fringe)

Why it’s good for SMSFs:

  • Direct beneficiary of the Melbourne Airport Rail Link project

  • Affordable for a metropolitan area with strong family appeal

  • Rising infrastructure spend, parks, and access to retail hubs like Highpoint

Long-term view: Keilor East is transitioning from older housing stock to high-quality renovations and new infill developments. The suburb has historically underperformed, but future transport and lifestyle upgrades are turning that trend around.

Risks:

  • Still catching up in terms of gentrification

  • Some pockets experience aircraft noise and should be vetted accordingly. The suburb also falls within the corridor of the upcoming Melbourne Airport Rail Link, which, while offering long-term connectivity advantages, brings the added risk of exposure to the windfall gains tax if land is later rezoned or declared as subject to uplift due to infrastructure improvements.

3. Altona North (Inner West)

Why it’s good for SMSFs:

  • Inner-coastal suburb offering far better value than neighbouring Williamstown

  • Ongoing development and community improvement projects

  • Fast access to CBD, beaches, and industrial employment zones

Long-term view: Altona North is becoming the smart investor’s alternative to the fully priced bayside suburbs. The long-term buyer pool includes both renters and professionals priced out of Yarraville, Newport, and Port Melbourne.

Risks:

  • Some areas still lack cohesive planning or neighbourhood identity

  • Industrial interface can impact street appeal in certain pockets

4. Footscray (Inner West)

Why it’s good for SMSFs:

  • Massive demographic shift underway as young professionals move in

  • Continued rise of hospitality, art, and local entrepreneurship

  • Walkable to the CBD, universities, and the Maribyrnong River

Long-term view: Footscray is shedding its old reputation and becoming one of Melbourne’s fastest-transforming suburbs.

Risks:

  • Still uneven quality in housing stock; unit builds vary significantly

  • Requires careful OC review if purchasing in a high-rise or newer block

5. Williams Landing (Western Growth Corridor)

Why it’s good for SMSFs:

  • Master-planned suburb with its own train station and town centre

  • Supported by VicUrban’s structured development pipeline

  • High rental demand from professionals and young families

Long-term view: Williams Landing is a blueprint for structured suburban planning done well. But SMSF suitability depends on your fund’s size, risk profile and investment timeline. Transport, schooling, and employment nodes are integrated into the suburb’s design. SMSF investors benefit from steady tenant interest and predictable capital uplift.

Risks:

  • May lack uniqueness compared to older character suburbs

  • Body corporate costs can be high in newer estates

6. Mickleham (Northern Fringe)

Why it’s good for SMSFs:

  • One of Victoria’s fastest-growing suburbs

  • New land estates, schools, and shopping hubs attracting young families

  • Low vacancy rates and high yields for houses

Long-term view: Mickleham’s value comes from its growth phase — buying now puts investors ahead of the infrastructure curve. With population growth and school zones driving demand, the area has a strong foundation for 10-year capital appreciation.

Risks:

  • Heavily reliant on continued population growth

  • Uniform housing stock can limit resale premium unless location is carefully chosen

7. Cranbourne (South-East Corridor)

Why it’s good for SMSFs:

  • Part of the booming south-east growth corridor

  • Consistent housing demand, especially for 3–4 bedroom homes

  • Access to multiple schools, retail hubs and arterial roads

Long-term view: Cranbourne offers entry-level affordability with room to grow. The diversity of buyer profiles (from first-home buyers to investors) gives the suburb a stable ecosystem.

Risks:

  • Some areas oversupplied or under-serviced

  • Requires selective buying to avoid fringe or unproven estates

8. Clyde North (South-East Metro Fringe)

Why it’s good for SMSFs:

  • Affordable land and house packages with high rental return

  • Ongoing infrastructure rollouts in schools, shopping and roads

  • Close proximity to Cranbourne, Berwick and Casey growth precincts

Long-term view: Clyde North is an emerging SMSF hotspot for those willing to take a slightly longer-term view. As the south-east corridor fills in, suburbs like Clyde North will become essential urban links.

Risks:

  • Early-stage developments often come with unfinished roads or services

  • Needs strong property management to secure quality tenants

Final Thoughts

When buying through your SMSF, you are not just buying an asset — you're setting up a part of your retirement funding mechanism. A well-chosen property should provide reliable rental income and capital growth, but it must also comply with the SMSF investment rules and serve a real market demand.

Each of the suburbs listed above provides:

  • Predictable population growth

  • Access to infrastructure or amenity

  • A rental market with low vacancy

  • Long-term capital appreciation drivers

However, due diligence is critical — especially in a long-term asset class like property. SMSF investors need to understand that the Victorian Government, already cash-strapped and actively seeking new revenue sources, has introduced and may expand taxes such as the Windfall Gains Tax. This tax applies to land uplift following rezoning or strategic redevelopment proposals. If your SMSF property is within or near a proposed infrastructure corridor or redevelopment precinct, you need to consider who will ultimately be paying the piper.

The property must be:

  • Purchased on arm's-length terms

  • Not used by related parties

  • Funded correctly (SMSF loan or available capital)

  • Compliant with your fund’s investment strategy

At Victorian Property Settlements, we’ve helped many clients structure SMSF purchases across Victoria and can assist from contract review to settlement. However, we are licensed conveyancers — not financial planners or investment advisers. Property within an SMSF is a long-term financial commitment, and you should seek appropriate advice tailored to your circumstances from a qualified professional before making any decisions. If you’re considering using your super to invest in property, get in touch before you sign.

Victorian Property Settlements
Trusted for over 25 years by Victorian buyers and sellers.
Visit: www.victorianpropertysettlements.com.au

David Dawn
Licensed Conveyancer
Victorian Property Settlements
PO Box 11220, Frankston VIC 3199
Email: david@quick32.com
Phone: (03) 9783 0111