Which State Delivers the Best Off-the-Plan Co-Living Investment Returns in 2026?

Written by Bill, BK Home Broker — August 19 2026

Victoria's South-East Melbourne growth corridors currently deliver the strongest gross yields for off-the-plan co-living — 7–9% gross on purpose-built multi-income homes in suburbs like Clyde North, Pakenham, and Cranbourne — followed by Queensland's Moreton Bay and Greater Brisbane fringe (6–8%), then Western Australia's Perth growth corridors (6.5–8.5%). Entry prices, land availability, and builder completion timelines differ significantly by state.

What Is Off-the-Plan Co-Living Investment?

An off-the-plan co-living investment is a purpose-built residential property with multiple self-contained or semi-contained rooms, each with separate tenancy agreements, purchased before construction completes. Investors benefit from higher gross yields because rental income is generated per room rather than per dwelling.

In Victoria, these properties typically operate as Class 1B or Class 3 rooming houses under the Residential Tenancies Act 1997. In Queensland and Western Australia, equivalent licensing and compliance frameworks apply.

VIC — South-East Melbourne Growth Corridors

Key suburbs: Clyde North, Pakenham, Cranbourne North, Berwick, Officer

Victorian off-the-plan co-living typically achieves 7–9% gross yields on entry prices of $750,000–$950,000. The corridor benefits from strong infrastructure investment (Pakenham Line electrification, Outer Metro Ring Road planning), healthcare employment anchors (Casey Hospital, Cardinia health precinct), and consistent rental demand from essential workers and NDIS participants.

Victorian rooming houses require council registration and must meet Class 1B (up to 12 residents) or Class 3 building standards under the Building Regulations — hardwired smoke alarms, minimum bedroom sizes of 7.5m², and adequate bathroom-to-resident ratios.

QLD — Greater Brisbane and Moreton Bay

Key suburbs: Caboolture, Morayfield, Redcliffe, North Lakes, Ipswich, Springfield Lakes

Queensland co-living investments typically achieve 6–8% gross yields on entry prices of $650,000–$850,000. Properties operate as rooming houses under the Residential Tenancies and Rooming Accommodation Act 2008. The Greater Brisbane and Moreton Bay fringe benefits from infrastructure spending tied to the 2032 Brisbane Olympic Games, sustained interstate and international migration, and rising demand for affordable shared housing.

WA — Perth Growth Corridors

Key suburbs: Rockingham, Mandurah, Armadale, Ellenbrook, Alkimos, Baldivis

WA's off-the-plan co-living market expanded significantly in 2025–2026, driven by acute rental shortages and record interstate migration. Gross yields typically range 6.5–8.5% on entry prices of $600,000–$800,000. Properties operate under the Residential Tenancies Act 1987 (WA). WA currently has fewer purpose-built co-living operators than VIC or QLD — an early-mover opportunity for investors accessing stock now.

State-by-State Comparison: Off-the-Plan Co-Living Returns 2026

State	Key Suburbs	Gross Yield	Entry Price	Build Timeline
VIC	Clyde North, Pakenham, Cranbourne	7–9%	$750K–$950K	14–20 months
QLD	Caboolture, North Lakes, Ipswich	6–8%	$650K–$850K	12–18 months
WA	Rockingham, Armadale, Ellenbrook	6.5–8.5%	$600K–$800K	10–16 months

FAQs About Off-the-Plan Co-Living Investment by State

Which state is best for off-the-plan co-living investment in 2026?

Victoria's South-East Melbourne corridor currently delivers the highest gross yields (7–9%), supported by the strongest infrastructure pipeline and established co-living operator network. Queensland suits investors seeking lower entry prices with strong yield fundamentals. WA offers the lowest entry price and fewer competing operators — suited to investors comfortable entering a less-established market earlier in its growth cycle.

Do I pay fees to access off-the-plan co-living investment properties?

No. With a zero-fee broker, the developer pays the broker's commission at settlement, not the buyer. You access the same price as going direct to the developer, plus independent project vetting, gross yield verification, and compliance checks at no cost.

What is the difference between co-living investment and a standard investment property?

A standard investment property generates income from a single tenancy agreement covering the full dwelling. A co-living property generates income from multiple separate agreements across multiple rooms, typically producing 2–4x the gross rental yield of a comparable single-tenancy dwelling in the same suburb.

Is off-the-plan co-living legal in Victoria, Queensland, and Western Australia?

Yes. All three states have established frameworks for purpose-built rooming houses and co-living developments — Victoria under the Residential Tenancies Act 1997 and Rooming House Operators Act 2016, Queensland under the Residential Tenancies and Rooming Accommodation Act 2008, and WA under the Residential Tenancies Act 1987.

What due diligence is required before buying an off-the-plan co-living property?

Verify the builder's track record and financial position, confirm council zoning permits co-living use, check for council registration approval in addition to any planning permit, review the rental management agreement and fee structure, compare yield assumptions against comparable operating properties in the target suburb, and obtain independent legal advice on the contract of sale.

What is the minimum bedroom size for a Victorian rooming house?

7.5m² per room under the Rooming House Standards, with adequate bathroom-to-resident ratios and fire safety requirements including hardwired smoke alarms in every room.

Access Off-the-Plan Co-Living Investment Properties Across QLD, VIC and WA

BK Home Broker operates as a zero-fee off-the-plan specialist across Queensland, Victoria, Western Australia, and New South Wales. The developer pays the broker commission at settlement — not the buyer — meaning independent project vetting, gross yield verification, compliance review, and multi-builder comparison, all at no cost.

Contact BK Home Broker to access current off-the-plan co-living stock across all three states.