Suburb Profile Report for Brunswick VIC (3056)

Brunswick House: Median price $1,172,500, Annual capital growth 8.25%, Number of sales 282, Weekly median advertised rent $560

Brunswick Unit: Median price $485,000, Annual capital growth 2.82%, Number of sales 466, Weekly median advertised rent $410

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Brunswick, 3056 should be relatively 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 11.35%

Across a shorter period, Brunswick, 3056 has seen a median price increase of -0.64% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Brunswick is offering property investors an average of -5.04. This rate of discount on properties puts Suburb at number 226th in terms of most discounted suburbs in VIC

In the last year 282 properties changed hands in Brunswick, which puts it as the 63th most active market in VIC when comparing the number of sales per suburb.

Brunswick is 450th on a list of best yielding suburbs for rents in VIC with a 2.48% return

Brunswick is in the bottom 20% in VIC when comparing median price capital growth over the last year. Brunswick gave property investors a dismal capital gain figure when compared to the rest of the state, with -4.90%.

When looking at the potential capital gains offered to property investors over the last 3 years, Brunswick comes in at number 315th in VIC.

Property investors looking for a bargain in Brunswick should be aiming for at least -4.41% off the asking price, which is the average vendor discount being achieved at the moment.

On average over the past year, suburb has had 38.83 sales per month, which equates to 466 per year.

Jonathan West Information supplied by:

Jonathan West
Nelson Alexander

M 0418 315 490
O (03) 9388 0088

W www.nelsonalexander.com.au
E jwest@nelsonalexander.com.au
Brunswick is tucked nice and close to the Melbourne CBD, with all the benefits that the Victorian capital is famous for: great dining, trendy retail opportunities and comprehensive public transport service.
Residents enjoy four separate tram lines in the suburb, as well as one train line; access to RMIT University and Melbourne University; and a seemingly endless supply of cafes, restaurants, small bars and hotels.
Full summary

Selling points: The Brunswick market has been very active for the last 10 years. It has four tram routes that go directly into the CBD, via universities, schools and hospitals. These tram routes are on Nicholson St, Lygon Street, Sydney Road & Melville road. Sydney Road is the longest shopping strip in the Southern hemisphere and has a large range of cafes, restaurants, fashion boutiques, small bars and pubs. Brunswick is become the wedding dress hub of Melbourne, with some of Australia’s best designers setting up retail outlets on Sydney Road. Investors love Brunswick because it’s just 6km from the CBD and cheaper to live in than places like Carlton North or Fitzroy. For young people, Brunswick is the place to be seen. Its cultural diversity, public transport and surrounding amenities set it apart from other inner city suburbs.

Most sought after properties: Two or three-bedroom period homes are the number one pick, as they seem to get better capital growth over a five to 10 year period. I recommend two or three bedrooms, with a central bathroom and open plan living, as well as secure parking and on good land. You will pay between $550k and 800k, depending on the size and style of the property.

Most common properties: Victorian, Edwardian and Californian bungalows

Top amenities: Public transport, local schools, cafes, restaurants and RMIT University

Local industry and business: Melbourne University, Moreland City Council, the four major banks and a number of professional city firms. A large number of residents, who work for these employers, live in Brunswick.

Recent changes: Brunswick has gone through a development boom in the last six years. At any one time there are just under 1,000 new dwellings being built in the Brunswick area, varying from four to nine-level apartment blocks with 50 to 120 apartments in each. Boutique blocks of 15 to 21 apartments are popular as well. This style of building will continue for years to come.

Best streets: Those in walking distance to public transport and shops.. Buyers want to be able to either walk or ride a bike to these attractions. Some of my best streets are Weston St, Barkly St, Edward St, Sutherland St, Lydia St and Laura St.

Public transport: It’s the best in Melbourne, with four tram routes and one train line.

Main arteries: Nicholson St, Lygon St, Sydney Rd and Melville Rd all offer direct access into the CBD and beyond. The other great thing is City Link; it only takes 12 minutes to the airport from Brunswick.

Close
Metrics i HOUSE UNIT
$1,172,500 $485,000
-0.64% -2.02%
11.35% -4.90%
8.25% 2.82%
$560 $410
282 466
2.48% 4.40%
43.16 54.49

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Brunswick VIC
Demographics
Total population 22763
Median household income ($/weekly) 1433
Median age of persons 33
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 2600 11.4
    25-34 years 6451 28.3
    35-44 years 3875 17.0
    45-54 years 2412 10.6
    55-64 years 1667 7.3
    Others 5759 25.3
    Age Group
    Census Count Percent(%)
    Not Married 9460 52.6
    Registered Married 5620 31.2
    Defacto Relationship 2912 16.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 13882 65.2
    Hong Kong 789 3.7
    Japan 898 4.2
    United Kingdom 786 3.7
    Other 1332 6.3
    Others 3613 17.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 635 3.1
    Christianity 9025 44.4
    Hinduism 506 2.5
    Islam 1110 5.5
    No Religion 8786 43.3
    Others 249 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 713 8.6
    $1,250-$1,499 686 8.2
    $1,500-$1,999 1090 13.1
    $2,000-$2,499 799 9.6
    $2,500-$2,999 896 10.8
    Others 4134 49.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8223 43.6
    Not in the labour force 5044 26.8
    Employed, worked part-time 4027 21.4
    Unemployed, looking for work 817 4.3
    Employed, away from work 735 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1487 11.5
    Professionals 5186 40.0
    Technicians & trades workers 1126 8.7
    Community & personal service workers 1162 9.0
    Clerical & administrative workers 1777 13.7
    Others 2243 17.3
    Occupation
    Census Count Percent(%)
    Pre-school 287 5.4
    Infants/Primary 834 15.7
    Secondary 645 12.1
    Technical or Further Educational Institution 613 11.5
    University or other Tertiary Institutions 2715 51.0
    Others 233 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10690 51.3
    Flat, unit or apartment 5568 26.7
    Semi-detached, row or terrace house, townhouse 4369 21.0
    House or flat attached to a shop, office 195 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 4417 48.6
    Being purchased 2331 25.7
    Fully owned 2301 25.3
    Other tenure type 32 0.4
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals