Emily Rodda's Deltora Quest is a classic of Australian kids literature. I've been reading these to my 7 and 8 year olds and they're enthralled.
Emily Rodda's Rowan of Rin series and the Timekeepers series were others that I loved myself as a kid and I know kids would still enjoy today.
For younger kids, Power and Glory by Emily Rodda was a huge hit with my kids and was for myself as well when i was their age. It's repetition is great for kids and the rhythm of it is fun with such a satisfying ending in my opinion.