VIC has seen average median house prices change by -1.79% which means that Broadmeadows, 3047 has not done well for property investors by showing a capital gain of -8.62% over the last year
Broadmeadows,3047 has offered an average of -8.62% return per annum in house price rises to property investors over the last three years.
Broadmeadows3047 is located in VIC which offers an average discount of -6.90% to property investors. Broadmeadows itself is showing figures that indicate -6.92% is the average achievable by property buyers investing in the suburb.
Renters in Suburb are facing rents around $18200 per annum or $350 every week.
Broadmeadows has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.56% to date .
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.
Property buyers and investors in Broadmeadows 3047 should be seeing an average reduction in asking price of around -5.55% . This means that Broadmeadows is holding prices well when compared to other suburbs in VIC.
Situated 14.47km from the CBD, Broadmeadows is one of Hume (C) localities in the postcode 3047.
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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.