Broadmeadows, 3047 ranked 24th in VIC when comparing growth in median property values or capital gain over the last 12 months. Broadmeadows is one of 2098 in our list for VIC
Broadmeadows,3047 was ranked 231 in Australia by increase in median property value over the quarter.
Broadmeadows has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.34% 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.
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.