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Broadmeadows, VIC 3047

Home » VIC Real Estate Data » Hume City, VIC » Broadmeadows, VIC 3047

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Broadmeadows, VIC 3047 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

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5BR

Rent 

2BR

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Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Broadmeadows, VIC 3047”

  1. The total adult population (15 years or older) of Broadmeadows 3047 VIC is 9,840, with a median age of 32. Of those, 43.08% are married, 12.52% are divorced or separated, 39.48% are single and 4.91% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $5,048. The median monthly mortgage repayment for households in this suburb is $1,408 which is 27.89% of their earnings.

    Source: ABS Census Data (2021)

  2. Broadmeadows, postcode 3047, is a vibrant suburb situated in the state of Victoria, Australia. With approximately 5,961 households, it exhibits a strong sense of community. By the third quarter of 2023, the typical price for houses in Broadmeadows was marked at $555,889. The median weekly rent for these homes stood at $361, which is quite attractive for both tenants and property investors, as it yields an indicative return of 3.38%.

    When we navigate through the socio-economic aspects, Broadmeadows achieves an IRSAD score of 833 out of 1217, indicating an encouraging socio-economic profile. However, potential investors should note a high renter to owner ratio of 49%, suggesting a robust rental market, yet the potential for saturation and competition. A suggestive hint from a lower units to houses ratio of 17% points towards a high presence of traditional homes over units, typically attracting families and establishing longer tenancy periods.

    Investors should also carefully consider the affordability index, which stands at 43 years in Broadmeadows. This suggests that the area leans more towards decreased affordability. However, this could potentially contribute to a higher rental market, as some may be compelled to rent due to the high ownership tenure.

    Looking at supply indicators, Broadmeadows shows a stock on market Percentage for houses of 0.59%, which lies in the neutral supply range, indicating a balance between supply and demand. Similarly, the inventory level is 2.14 months, falling into the favourable range, implying a market ready to absorb new listings. The building approvals Ratio is held moderately at 1.12%, indicating a steady stream of new dwellings.

    Despite the affordability concerns, the demand for housing in Broadmeadows seems strong with an average of 39 days on market for houses, showcasing a modest demand. This is further highlighted by a low vacancy rate of 0.48%, suggesting a high demand for rental properties. However, the buy search index for houses stands at 3, reflecting a slight limited interest from buyers.

    Despite some unfavourable indicators, the overall picture suggests Broadmeadows remains a worthwhile consideration for property investors. It’s also essential to remember the importance of observing trends within individual metrics, a task simplified by using tools such as HtAG Analytics’ RCS (Relative Composite Score) metric, which incorporates over 80 different factors into easy-to-understand market analysis.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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