Suburb Profile Report for Broadmeadows VIC (3047)

Broadmeadows House: Median price $404,000, Annual capital growth 7.51%, Number of sales 158, Weekly median advertised rent $315

Broadmeadows Unit: Median price $331,500, Annual capital growth 5.16%, Number of sales 68, Weekly median advertised rent $328

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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 9.56%.

Taking the average capital gain, or increase in median house value, Broadmeadows,3047 has racked up an average of 9.56% over the period. This ranks it number 1393th in the whole country for real estate investors looking at median house price increases.

At number 166th of VIC’s most discounted properties, Broadmeadows is in the bottom 30% of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Broadmeadows the average time real estate has been on the market is 103.33 days.

Broadmeadows is 253th on a list of best yielding suburbs for rents in VIC with a 4.05% return

With a capital gain of 10.50% for the last 12 months, Broadmeadows, 3047 has performed for property investments than its average annual 5.16% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Broadmeadows,3047 has racked up an average of 10.50% over the period. This ranks it number 632th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -4.93% to buyers in Broadmeadows at the moment, which is less than average for the rest of VIC.

In the last year 68 properties changed hands in Broadmeadows, which puts it as the 132th most active market in VIC when comparing the number of sales per suburb.

Broadmeadows, 3047’s gross rental yield is 5.14%

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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
HOUSE UNIT
$404,000 $331,500
4.94% -1.78%
9.56% 10.50%
7.51% 5.16%
$315 $328
158 68
4.05% 5.14%
103.33 104.21

Source: CoreLogic

DSR Score for property investment : 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
Chart Table
Recent sales & rentals