Stock market or Townhouse

Just did an inspection and am looking at a townhouse worth about $560k (Brisbane). I have a deposit of just under 100k and will be renting it straight away ($550 a week). Body corp is $60 a week. The suburb has returned over 22% in the last year. Would it be worth it to buy the townhouse for that much (don't know if the suburb will grow at this rate this year).

What I didn't like was that the complex was almost 200 townhouses, they were all identical and just felt like a maze and a bit depressing lol.

I won't use any first home buyer grants and am using the 6 year rule on another property so don't know if I should keep the money in shares because selling the townhouse down the track will mean a massive tax bill.

Also, what do you guys think about getting a townhouse in west Melbourne? Is there any hope for melbourne this year or is it like catching a falling knife?

Thank you legends!