Broadmeadows (postcode 3047) is an established suburb in Victoria within the Hume local government area. The area has roughly 12,524 residents and a mix of young professionals and families, with a median age of 32. Households earn a median income of $60K per year, with an average household size of 2.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.0% 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 labourers, technicians & trades, professionals. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Lebanese.
Median house prices in Broadmeadows stand at $585,000, having moved higher by 4.5% over the last twelve months. Units have a median price of $458,000 (+1.2% YoY). The current median weekly rent is $515. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,408.
Broadmeadows is served by 9 schools, including 4 primary, 2 secondary, 1 combined, 2 special. The average ICSEA score is 959, which is around the national average of 1,000. Public transport access includes 11 rail stations, 61 bus stops. The crime rate in the Hume LGA is higher than average at 8,365 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 4.6% (moderate yield). Property prices sit below the state median ($585K/$875K), which can point to relative value. The price-to-income ratio of 9.8x is considered moderate. House prices have moved +4.5% year-on-year. Population growth of +3.0% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.