Suburb Profile Report for Brunswick VIC (3056)

Brunswick House: Median price $899,000, Annual capital growth 8.39%, Number of sales 230, Weekly median advertised rent $525

Brunswick Unit: Median price $487,000, Annual capital growth 5.64%, Number of sales 311, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Brunswick, 3056 should be pleased 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 15.33%

Over the longer term, Brunswick has seen property prices show investors a 36.52% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -3.20% to buyers in Brunswick at the moment, which is less than average for the rest of VIC.

With the median price for a house in Brunswick being $899000 and the advertised rent reaching $525 the gross rental yield for property investors calculates out to be 3.04%

Property value increases in Brunswick have tracked just lower than the VIC average of 3.63% over the last 12 months.

Over the longer term, Brunswick has seen property prices show investors a 6.80% return over the last 3 years. This is worse than over the last 12 months

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.22% offered to property buyers. Sellers in Brunswick itself are offering an average vendor discount of -3.84% to real estate investors.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.16%, without taking into account capital value appreciation, which has been averaging out at 5.64%.

Jonathan West Information supplied by:

Jonathan West
Nelson Alexander

M 0418 315 490
O (03) 9388 0088

W www.nelsonalexander.com.au
E jwest@nelsonalexander.com.au
Brunswick is tucked nice and close to the Melbourne CBD, with all the benefits that the Victorian capital is famous for: great dining, trendy retail opportunities and comprehensive public transport service.
Residents enjoy four separate tram lines in the suburb, as well as one train line; access to RMIT University and Melbourne University; and a seemingly endless supply of cafes, restaurants, small bars and hotels.
Full summary

Selling points: The Brunswick market has been very active for the last 10 years. It has four tram routes that go directly into the CBD, via universities, schools and hospitals. These tram routes are on Nicholson St, Lygon Street, Sydney Road & Melville road. Sydney Road is the longest shopping strip in the Southern hemisphere and has a large range of cafes, restaurants, fashion boutiques, small bars and pubs. Brunswick is become the wedding dress hub of Melbourne, with some of Australia’s best designers setting up retail outlets on Sydney Road. Investors love Brunswick because it’s just 6km from the CBD and cheaper to live in than places like Carlton North or Fitzroy. For young people, Brunswick is the place to be seen. Its cultural diversity, public transport and surrounding amenities set it apart from other inner city suburbs.

Most sought after properties: Two or three-bedroom period homes are the number one pick, as they seem to get better capital growth over a five to 10 year period. I recommend two or three bedrooms, with a central bathroom and open plan living, as well as secure parking and on good land. You will pay between $550k and 800k, depending on the size and style of the property.

Most common properties: Victorian, Edwardian and Californian bungalows

Top amenities: Public transport, local schools, cafes, restaurants and RMIT University

Local industry and business: Melbourne University, Moreland City Council, the four major banks and a number of professional city firms. A large number of residents, who work for these employers, live in Brunswick.

Recent changes: Brunswick has gone through a development boom in the last six years. At any one time there are just under 1,000 new dwellings being built in the Brunswick area, varying from four to nine-level apartment blocks with 50 to 120 apartments in each. Boutique blocks of 15 to 21 apartments are popular as well. This style of building will continue for years to come.

Best streets: Those in walking distance to public transport and shops.. Buyers want to be able to either walk or ride a bike to these attractions. Some of my best streets are Weston St, Barkly St, Edward St, Sutherland St, Lydia St and Laura St.

Public transport: It’s the best in Melbourne, with four tram routes and one train line.

Main arteries: Nicholson St, Lygon St, Sydney Rd and Melville Rd all offer direct access into the CBD and beyond. The other great thing is City Link; it only takes 12 minutes to the airport from Brunswick.

Close
HOUSE UNIT
$899,000 $487,000
3.10% 1.25%
15.33% 0.94%
8.39% 5.64%
$525 $390
230 311
3.04% 4.16%
52.6 62.81

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Brunswick VIC
Demographics
Total population 22763
Median household income ($/weekly) 1433
Median age of persons 33
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 2600 11.4
    25-34 years 6451 28.3
    35-44 years 3875 17.0
    45-54 years 2412 10.6
    55-64 years 1667 7.3
    Others 5759 25.3
    Age Group
    Census Count Percent(%)
    Not Married 9460 52.6
    Registered Married 5620 31.2
    Defacto Relationship 2912 16.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 13882 65.2
    Hong Kong 789 3.7
    Japan 898 4.2
    United Kingdom 786 3.7
    Other 1332 6.3
    Others 3613 17.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 635 3.1
    Christianity 9025 44.4
    Hinduism 506 2.5
    Islam 1110 5.5
    No Religion 8786 43.3
    Others 249 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 713 8.6
    $1,250-$1,499 686 8.2
    $1,500-$1,999 1090 13.1
    $2,000-$2,499 799 9.6
    $2,500-$2,999 896 10.8
    Others 4134 49.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8223 43.6
    Not in the labour force 5044 26.8
    Employed, worked part-time 4027 21.4
    Unemployed, looking for work 817 4.3
    Employed, away from work 735 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1487 11.5
    Professionals 5186 40.0
    Technicians & trades workers 1126 8.7
    Community & personal service workers 1162 9.0
    Clerical & administrative workers 1777 13.7
    Others 2243 17.3
    Occupation
    Census Count Percent(%)
    Pre-school 287 5.4
    Infants/Primary 834 15.7
    Secondary 645 12.1
    Technical or Further Educational Institution 613 11.5
    University or other Tertiary Institutions 2715 51.0
    Others 233 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10690 51.3
    Flat, unit or apartment 5568 26.7
    Semi-detached, row or terrace house, townhouse 4369 21.0
    House or flat attached to a shop, office 195 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 4417 48.6
    Being purchased 2331 25.7
    Fully owned 2301 25.3
    Other tenure type 32 0.4
    Tenure Type
Census 2011, ABS
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