Broadmeadows is clearing homes at a pace that stands out even in a strong market. Two-bedroom houses are clearing at a remarkable 96 per cent, with three-bedroom homes close behind at 92 per cent and 140 sales this year, all in under a month on market.
Four-bedroom family homes are trading at $700,000 with an 80 per cent clearance rate, and apartments are moving well too, with two-bedroom units at $470,000. With half of local households renting and a young population, this remains an accessible entry point for first-home buyers and investors alike.
An influx of young families is reshaping demand here, and buyers want homes that are genuinely move-in ready. Affordable units and townhouses in particular are turning over quickly, and with clearance this strong across every bracket, well-presented homes are meeting the market almost immediately, often within the first week or two of listing.
Median sale price for houses in Broadmeadows is $640,000, up 10.3% from last year.
Median sale price for units in Broadmeadows is $490,000, up 6.1% from last year.
Properties sold for houses in Broadmeadows is 244, up 8.4% from last year.
Properties sold for units in Broadmeadows is 57, down 33.7% from last year.
Auction clearance for houses in Broadmeadows is 91.5%, up 19.0% from last year.
Auction clearance for units in Broadmeadows is 87.5%, up 13.8% from last year.
Av days on market for houses in Broadmeadows is 28, down 31.7% from last year.
Av days on market for units in Broadmeadows is 27, up 8.0% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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Owning an investment property and owning a good investment property are not necessarily the same thing. It’s an important distinction, and one that property investors should revisit regularly.
The Reserve Bank's decision to leave the cash rate on hold at 4.35 per cent is welcome news for buyers, sellers and businesses alike. While it's not a silver bullet for Melbourne's property market, it should provide some reassurance that the aggressive phase of the interest rate tightening cycle may be easing.
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