broadmeadows

3047, Victoria

Real Estate & Property Information

Median
Price Rank
431

broadmeadows Suburb Profile & Review

Well placed only twenty minutes from the city, Broadmeadows is a diverse suburb full of working-class families and Turkish and Lebanese communities.

With easy access to the Tullamarine Freeway and the Western Ring Road, Melbourne Airport and Westfield Airport West are both mere minutes away. At Broadmeadows Shopping Centre find major retailers such as Target, Big W and Hoyts alongside popular specialty stores such as Best and Less, Dick Smith and Priceline. Walk the jetty at Jack Roper Reserve to fish in the lake, or take the kids to the playground and settle in for a barbeque overlooking the scenic parkland.

Broadmeadows has eight schools including Hume Central Secondary College, Penola Catholic College, and the Broadmeadows campus of the Kangan Institute, which houses the Aerospace Industry Training Centre, Victoria's largest purpose-built training facility for the aviation industry. Broadmeadows Station offers regular train services to Flinders Street on the Craigieburn line, while Broadmeadows is also the final stop on many of the northern suburbs' bus routes.

broadmeadows Demographic Data

$ 353,001 Median House Price

22 Minutes Average Commute

31 Median Age

10,578 Population

49.52 % Female

50.48 % Male

2426 NO OF FAMILIES

2.1 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in broadmeadows, Victoria.

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broadmeadows Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

broadmeadows Median House Prices

  • 2008 $ 228,000
  • 2009 $ 270,000
  • 2010 $ 315,000
  • 2011 $ 390,000
  • 2012 $ 353,001

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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broadmeadows 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in broadmeadows have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term broadmeadows property price predictions.

broadmeadows Market Property Types

  • 84 % Seperate House
  • 4 % Semi Detached
  • 12 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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broadmeadows Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

broadmeadows Income & Mortgage Stats

  • $ 746 Median Weekly Household Income
  • $ 1,300 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in broadmeadows

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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broadmeadows Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

broadmeadows Sold Property Prices

broadmeadows Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

broadmeadows Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

broadmeadows Restaurants

  • La Porchetta50 Pearcedale Paradebroadmeadows VIC 304703 9302 4455
  • Nick's Seafood Restaurant48- 50 Pearcedale Pde broadmeadows VIC 304703 9302 4455
  • Italia MiaBroadmeadows Shopping Centre, 1099-1169 Pascoe Vale Roadbroadmeadows VIC 304703 9309 5800

broadmeadows Cafes

  • Coffee Art1099-1169 Pascoe Vale Roadbroadmeadows VIC 304703 9309 0355
  • Degani Bakery CafeShop 6, 11-17 Pearcedale Parade broadmeadows VIC 304703 9302 1777
  • Olsen Place Bakehouse 19 Olsen Placebroadmeadows VIC 304703 9309 6885

broadmeadows Schools

  • Penola College Senior29 Gibson Streetbroadmeadows VIC 3047(03) 9301 2777Catholic Secondary School
  • St. Dominics Primary School408 Camp Roadbroadmeadows VIC 3047(03) 9309 4146Catholic Primary School
  • Broadmeadows Special Development SchoolSorrento Streetbroadmeadows VIC 3047(03) 9302 1244Specialist School

broadmeadows Childcare

  • Derek Robson Childrens ServicesCentre, Chiltern Stbroadmeadows VIC 3047
  • Kangan Batman TAFEPearcedale Paradebroadmeadows VIC 3047
  • Derek Robson Childrens Services CentreChiltern Stbroadmeadows VIC 3047

broadmeadows Kindergarten and Preschools

  • Broadmeadows KindergartenBlair Streetbroadmeadows VIC 3047
  • Campmeadows Kindergarten39 Graham Streetbroadmeadows VIC 3047

broadmeadows Sporting Centres and Clubs

  • Broadmeadows Leisure Centrebroadmeadows VIC 3047Netball Club
  • St. Dominicsbroadmeadows VIC 3047Tennis Club & Courts
  • Trinitybroadmeadows VIC 3047Tennis Club & Courts

Find out How Much your House is Worth in broadmeadows

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