The R's are a team in transition and made a host of changes over the summer, but the squad at Loftus Road remains a talented one.
For this reason, Austin thinks that the London club should be challenging for promotion, and has set his sights high for the remainder of the campaign.
"I believe we should be in the top six and if we fail to get in the top six it has not been a successful season," he said.
Austin was linked with a move away from QPR this summer, with Newcastle United said to be very close to completing a deal by the Daily Mail, but a switch never materialised.
The 26-year-old believes that the fact he is not playing in the top-flight will cost him a place in the England squad for Euro 2016, but insists that he will still be going all out to fire QPR back into the big time.
"Of course you have ambitions, but I have to be realistic and take it one step at a time," he added.
"I know the Euros are at the end of the season but the likelihood now is that I'm not going to be involved in that squad.
"That does not mean that I am not going to try and score as many goals as I can for QPR because our main aim is to get promoted."
The value of keeping Austin has already been highlighted for QPR, as the striker has racked up six goals in the first eight games of the new term.
Austin's finishing has helped Chris Ramsey's side move up to 9th in the Championship table, and he will be hoping to continue his fine form against Fulham on Friday evening.