I, and a lot of other property investors, are of the belief that scarcity of land is what drives property values up. 

I live in Ipswich and I MAY invest out as far as Toowoomba if I get a good enough deal, but not any further out than that.  There is A LOT of free space on the map out in Dalby. 

IF you are looking for capital growth, then the closer you can get to Brisbane the better.  Obviously there are still some places you want to avoid, but not as much as I'd avoid Dalby.  If you are limited by the amount you can spend on a property in order to get started, then maybe you could start in Toowoomba or Ipswich at the moment? 

What you DON'T want to do is wait 5 years until you can afford a $400 000 townhouse in Indooroopilly only to find out that now you can't buy anything because they've all gone up another $200 000!

Good luck!