Brookfield is a settled mid-to-large suburb in Victoria within the Melton local government area (postcode 3338). With a population of 10,782, the suburb has a mix of young professionals and families with a median age of 32. Households earn a median income of $85K per year, with an average household size of 3.1 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +5.8% 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, community & personal service, machinery operators & drivers. Employment in the area leans toward healthcare and transport & logistics. The top ancestries reported are Australian, English, Indian.
The median house price in Brookfield is $561,000, having ticked up by 2% over the past year. The current median weekly rent is $480. This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $1,663.
Brookfield is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 1008, which is around the national average of 1,000. Public transport access includes 24 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
Looking at the investment signals, Brookfield shows a gross rental yield of approximately 4.4%, rated as moderate yield. Property prices sit below the state median ($561K/$875K), which can point to relative value. The price-to-income ratio of 6.6x is considered moderate. House prices have moved +2.0% year-on-year. Population growth of +5.8% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.