Broadmeadows is an average performer in VIC when comparing median price capital growth over the last year. Broadmeadows gave property investors a average capital gain figure when compared to the rest of the state, with 4.63%.
While Broadmeadows,3047 ranked number 542th in VIC for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Broadmeadows is offering property investors an average of -6.20. This rate of discount on properties puts Suburb at number 658th in terms of most discounted suburbs in VIC
Property investors who have had real estate in Broadmeadows, 3047 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 24.07%
When looking at the potential capital gains offered to property investors over the last 3 years, Broadmeadows comes in at number 15th in VIC.
Sellers are offering property buyers an average discount of -6.25% to buyers in Broadmeadows at the moment, which is less than average for the rest of VIC.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 4.31%, without taking into account capital value appreciation, which has been averaging out at 6.14%.
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.