Property investors who have had real estate in Broadmeadows, 3047 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.04%
Taking the average capital gain, or increase in median house value, Broadmeadows,3047 has racked up an average of 7.04% over the period. This ranks it number 1700th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Broadmeadows is giving property investors an average Vendor Discount of around -5.29%. This puts suburb at number 341th in VIC when ranking the most discounted suburbs.
Situated 14.77km from the CBD, Broadmeadows is one of Hume localities in the postcode 3047.
Over the last year, property investments in Broadmeadows, 3047 have given investors a capital gain of 6.78%. This compares favourably with the 4.09% for VIC as a whole.
While Broadmeadows,3047 ranked number 180th in VIC for increase in median house value (annualised) increase, it is ranked 309th over the last 5 years.
Our latest figures would indicate that property sellers in Broadmeadows are currently offering property investors an average price cut of -4.62% below the asking price at the moment.
In the last year 52 properties changed hands in Broadmeadows, which puts it as the 176th most active market in VIC when comparing the number of sales per suburb.
Broadmeadows is 48th on a list of best yielding suburbs for rents in VIC with a 5.37% return
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
Information supplied by:
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.