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Brookfield, VIC 3338

Home » VIC Real Estate Data » Melton City, VIC » Brookfield, VIC 3338

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 Brookfield, VIC 3338 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

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

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 “Brookfield, VIC 3338”

  1. The total adult population (15 years or older) of Brookfield 3338 VIC is 7,895, with a median age of 32. Of those, 49.63% are married, 10.77% are divorced or separated, 35.57% are single and 3.95% are widowed.

    The average household size is 3.1 people per dwelling, and the median household monthly income is estimated to be $7,188. The median monthly mortgage repayment for households in this suburb is $1,663 which is 23.14% of their earnings.

    Source: ABS Census Data (2021)

  2. Settled in the state of Victoria, the suburb of Brookfield 3338 is a residential area estimated to house 4162 households. As we ventured into Q3 of 2023, the typical price range for houses was observed to be approximately $575,616. Those looking to rent could expect a median rate of $369 per week, which indicates an attractive yield of around 3.33%.

    In light of the socio-economic framework, Brookfield’s IRSAD score stands at 937 out of 1217, suggesting a fairly good socio-economic status among residents. The renter to owner ratio was recorded at 28%, indicating a healthy rental market. Furthermore, taking into account the units to houses ratio which is just 1%, the suburb enjoys less competition among landlords for tenants, thus maintaining high rental yields.

    However, the affordability index for houses in Brookfield is 31 years. This exceeds the assumed standard 30-year mortgage period, suggesting a degree of decreased affordability. The stock on the market percentage for houses is balanced at 0.82%, which is within the neutral range. inventory levels stand at a favourable 2.5 months, suggesting an absorbent property market.

    Examining the building approvals ratio, a fairly neutral figure of 1.49% was noted, denoting a stable supply of new dwelling stock in the market. The average time a house remains active on the market, also known as the Days on Market, trace a neutral demand range at 45 days. The vacancy rate, combined for both houses and units, stands at a neutral 1.64%, keeping the market neither too tight nor too loose. The buy search index for houses remains neutral at 3.

    Though some indicators, like the Affordability Index, may fall into unfavourable territory, it’s important to remember that they should be assessed alongside other factors. For instance, while the “Years to Own” metric raises concerns about affordability, strong indicators like the low units to houses ratio, balanced inventory level, and renter to owner ratio reflect a market that’s well-positioned in other areas.

    Lastly, it’s pertinent to mention that HtAG Analytics’ Relative Composite Score (RCS) simplifies this research by distilling the above information into an easily digestible score using over 80 metrics, indicating market performance and property investment potential.

    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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