Giving property investors a a solid capital gain of 19.74% for the last year, Broadmeadows, 3047 is the 407th highest performer in Australia in this respect.
The five-year average increase in median property values for Broadmeadows,3047 has given property investors a potential capital gain of 38.51% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Broadmeadows is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 170th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Broadmeadows the average time real estate has been on the market is 65.16 days.
The VIC suburb of Broadmeadows, 3047 is in the Hume local government area.
With a capital gain of -0.90% for the last 12 months, Broadmeadows, 3047 has performed for property investments than its average annual 5.33% property growth over the last 5 years.
Across a shorter period, Broadmeadows, 3047 has seen a median price increase of 0.00% over the last quarter.
Property investors looking for a bargain in Broadmeadows should be aiming for at least -5.88% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Broadmeadows the average time real estate has been on the market is 85.89 days.
Advertised rents are around the $330 mark per week – giving a return of 5.20% based on the median price in Suburb
Sitting 18km north of Melbourne’s CBD, Broadmeadows is a suburb with a strong rental market and a changing outlook that should fuel capital growth, explains Herron Todd White Melbourne managing director Tony Kelly.Full summary
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Sitting 18km north of Melbourne’s CBD, Broadmeadows is a suburb with a strong rental market and a changing outlook that should fuel capital growth, explains Herron Todd White Melbourne managing director Tony Kelly.
“Once a strong working class suburb with housing commission dwellings, Broadmeadows has started to take on a new character,” he says.
“Improving linkages with the Western Ring Road and the redevelopment of the railway station have been contributors to the ongoing gentrification process. Rental demand is particularly strong and the suburb popular among Middle Eastern cultures”.
Renters are expected to make up a third of Broadmeadows' population base over the next five years. The area’s annualised rate of population growth is expected to hover at the 1% mark over the next five years.
Accessibility is good, with the travel time to the city being 30 minutes by train or car, and amenity options here are excellent. The major banks all have branches or ATMs here, there’s a Hoyts cinema, a Coles supermarket, a huge nature reserve and a dozen schools within a 2km radius.