Suburb Profile Report for Broadmeadows VIC (3047)

Broadmeadows House: Median price $445,000, Annual capital growth 8.33%, Number of sales 179, Weekly median advertised rent $320

Broadmeadows Unit: Median price $330,000, Annual capital growth 5.47%, Number of sales 84, Weekly median advertised rent $325

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Broadmeadows, 3047 ranked 113th in VIC when comparing growth in median property values or capital gain over the last 12 months. Broadmeadows is one of 2098 in our list for VIC

Across a shorter period, Broadmeadows, 3047 has seen a median price increase of 6.33% over the last quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Broadmeadows itself are offering an average vendor discount of -5.79% to real estate investors.

At number 1566 in a list of fastest selling suburbs, Broadmeadows is just in the top half of suburbs in Australia with an average of days on market 71.33 for properties listed there.

Property investors should expect to get $320 weekly from the median priced house in this suburb.

Broadmeadows, 3047 ranked 282th in VIC when comparing growth in median property values or capital gain over the last 12 months. Broadmeadows is one of 2098 in our list for VIC

While Broadmeadows,3047 ranked number 232th in VIC for increase in median house value (annualised) increase, it is ranked 277th over the last 5 years.

Vendor discounting in Broadmeadows is giving property investors an average Vendor Discount of around -6.30%. This puts suburb at number 55th in VIC when ranking the most discounted suburbs.

Residents and property investors in Broadmeadows have been waiting around 87.64 days to sell a property.

Renters in Suburb are facing rents around $3900 per annum or $325 every week.

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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.Full summary

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.

Close
Metrics i HOUSE UNIT
$445,000 $330,000
6.33% 0.00%
18.67% -1.49%
8.33% 5.47%
$320 $325
179 84
3.74% 5.12%
71.33 87.64

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
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Demographics
Total population 10579
Median household income ($/weekly) 746
Median age of persons 31
Median housing loan repayment ($/monthly) 1300
Average household size 3
  • Census Count Percent(%)
    5-14 years 1612 15.2
    25-34 years 1641 15.5
    35-44 years 1386 13.1
    45-54 years 1276 12.1
    55-64 years 891 8.4
    Others 3774 35.7
    Age Group
    Census Count Percent(%)
    Not Married 3658 52.0
    Registered Married 3110 44.2
    Defacto Relationship 263 3.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 4945 53.4
    Ireland 691 7.5
    Malaysia 492 5.3
    Turkey 612 6.6
    Other 849 9.2
    Others 1673 18.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 259 2.8
    Christianity 4329 47.3
    Hinduism 190 2.1
    Islam 3211 35.1
    No Religion 980 10.7
    Others 175 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 325 12.0
    $400-$599 401 14.7
    $600-$799 386 14.2
    $800-$999 277 10.2
    $1,000-$1,249 303 11.1
    Others 1027 37.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3973 56.0
    Employed, worked full-time 1536 21.7
    Employed, worked part-time 899 12.7
    Unemployed, looking for work 423 6.0
    Employed, away from work 263 3.7
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 428 15.9
    Community & personal service workers 295 10.9
    Clerical & administrative workers 311 11.5
    Machinery operators & drivers 423 15.7
    Labourers 515 19.1
    Others 728 27.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 856 33.1
    Secondary 739 28.5
    Technical or Further Educational Institution 378 14.6
    University or other Tertiary Institutions 316 12.2
    Other type of educational institution 162 6.3
    Others 138 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8175 87.1
    Flat, unit or apartment 860 9.2
    Semi-detached, row or terrace house, townhouse 348 3.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1208 40.3
    Being purchased 893 29.8
    Fully owned 877 29.2
    Other tenure type 22 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals