Located in Victoria within the Mitchell local government area, Broadford is a compact suburb (postcode 3658). The area has roughly 4,592 residents and an established demographic, with a median age of 40. Households earn a median income of $79K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +4.2% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, labourers, professionals. Employment in the area leans toward construction and healthcare. The top ancestries reported are Australian, English, Irish.
The median house price in Broadford is $520,000, having moved lower by 5.5% over the past year. Units have a median price of $380,000 (-20% YoY). The current median weekly rent is $460. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,507.
Broadford is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 967, which is around the national average of 1,000. Public transport access includes 2 rail stations. The crime rate in the Mitchell LGA is higher than average at 9,406 incidents per 100,000 population.
From an investment perspective, Broadford shows a gross rental yield of approximately 4.6%, rated as moderate yield. Property prices sit below the state median ($520K/$875K), which can point to relative value. The price-to-income ratio of 6.6x is considered moderate. House prices have moved -5.5% year-on-year. Population growth of +4.2% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.