Investment property in Broadmeadows has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.57%
If we look at median property appreciation over just the last three months, Broadmeadows has given property investors a paper return of 3.61%. This puts Suburb as 174 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Broadmeadows 3047 should be seeing an average reduction in asking price of around -7.15% . This means that Broadmeadows is holding prices well when compared to other suburbs in VIC.
Situated 14.85km from the CBD, Broadmeadows is one of Hume localities in the postcode 3047.
At number 545th in the list of Australian suburbs ordered by increase in median house value over the last year, Broadmeadows, 3047 is in the top 40% with a property value increase of 7.32% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Broadmeadows has increased when compared to the 5 year average annual rate.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.13% offered to property buyers. Sellers in Broadmeadows itself are offering an average vendor discount of -5.22% to real estate investors.
Residents and property investors in Broadmeadows have been waiting around 100.46 days to sell a property.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 5.17%, investors should hope to achieve an overall return of 5.20%
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.