Broadmeadows has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 33.17% to date .
If we look at median property appreciation over just the last three months, Broadmeadows has given property investors a paper return of 4.40%. This puts Suburb as 162 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in Broadmeadows are currently offering property investors an average price cut of -3.81% below the asking price at the moment.
Residents and property investors in Broadmeadows have been waiting around 55.48 days to sell a property.
Broadmeadows is 315th on a list of best yielding suburbs for rents in VIC with a 3.14% return
Giving property investors a a stable capital gain of 9.70% for the last year, Broadmeadows, 3047 is the 524th highest performer in Australia in this respect.
A 34.07% growth in median value for property investors in Broadmeadows,3047 puts this suburb at number 124th in terms of best performing suburbs in VIC
Property investors looking for a bargain in Broadmeadows should be aiming for at least -4.78% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 94 properties changed hands in Broadmeadows, which puts it as the 98th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Broadmeadows being $362000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 4.88%
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.