If you compare the increase in value of investment property in Broadmeadows, 3047 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 9.86%.
Broadmeadows,3047 was ranked 1786 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Broadmeadows is offering property investors an average of -6.00. This rate of discount on properties puts Suburb at number 156th in terms of most discounted suburbs in VIC
With the median price for a house in Broadmeadows being $406500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.09%
Broadmeadows is in the TOP 20% in VIC when comparing median price capital growth over the last year. Broadmeadows gave property investors a very good capital gain figure when compared to the rest of the state, with 10.68%.
Broadmeadows,3047 was ranked 1200 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Broadmeadows are currently offering property investors an average price cut of -5.38% below the asking price at the moment.
A $330 per week rent on the median house gives suburb investors a gross yield of circa 5.18%, without taking into account capital value appreciation, which has been averaging out at 5.14%.
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.