Suburb Profile Report for Broadmeadows VIC (3047)

Broadmeadows House: Median price $565,000, Annual capital growth 8.69%, Number of sales 134, Weekly median advertised rent $350

Broadmeadows Unit: Median price $434,250, Annual capital growth 6.14%, Number of sales 32, Weekly median advertised rent $360

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

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%.

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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.

Metrics i HOUSE UNIT
$565,000 $434,250
-2.42% 8.56%
4.63% 24.07%
8.69% 6.14%
$350 $360
134 32
3.22% 4.31%
56.33 54.36

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Broadmeadows VIC
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
    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
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