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.
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.