That's a very interesting question, it depends mostly on lifestyle as well as budget - however my personal thoughts would be up at Excelsior Park or the estate opposite up near Burgundy Drive (these are all small acreage properties & offer a fantastic family environment). There are a number of primary schools in the area, again depending on public or private - St Eugene's at Burpengary has a good reputation as does St Peter's at Caboolture. Just my opinion but hope it helps!
We moved from Melbourne to a 3/4 acre property in Burgundy Dr Morayfield. We have been here 12 years now.It a wonderful spot ...no hoons, street kids or thieves. Parks are everywhere with enough room for horses on many properties. All reasonably priced compared to Melbourne and Sydney & inner Brisbane.
Local shops 2 km away, large shopping complex 7 km, frequent electric trains to city and Brisbane Airport 40 minutes toll free drive.
Just to add to topic, another very popular family suburb is Tarragindi. Statistics are showing that Tarragindi properties are 80% owner occupied. Having sold a few properties in this suburb this year the buyer enquiry has largely been dominated by buyers with growing families. It has proven to be popular with the strong reputation for its schools such as St. Elizabeth and Wellers Hill State School, its close proximity to the city and very good public transport network. Property prices are reasonable in comparison to surrounding suburbs as well. Hope this was helpful