Broadmeadows, Victoria

[anisavvu]

Hello Friends,

What are your views about this suburb in the Melbourne North, It is about 17 Kilometres from CBD, has a railway station, good sized blocks and affordable price range (affordable for me).

What are your views about this suburb as an investment property.

Does it possess good growth prospects??

I am not from Melbourne, so I do not know much about this areas, your comments (positive/negative/critical) will be much appreciated.

Regards,

Sanjeev

 

[tubs]

I dont mean to offend anyone from Broadmeadows, but just think drugs, crime and shootings.

I'd look elsewhere.

 

[Lake]

I dont mean to offend anyone from Broadmeadows, but just think drugs, crime and shootings.

I'd look elsewhere.

Until gentrification really takes hold, I'd be hesitant to commit to Broady. Yes, yield looks a lot better than other areas in Melbourne. However, the chance of having your tenant doing a runner or trashing your place is high.

But you never know. Broady may boom just like Elizabeth in SA, if enough investors buy there and bid up the prices.

 

[Player]

Hi Sanjeev,

look at the Buying under 300 K in Vic thread in this sub forum. I have given my views on Broadmeadows and my experience in researching and purchasing there. I believe it represents good value.

 

[+Mpire_Builder+]

I dont mean to offend anyone from Broadmeadows, but just think drugs, crime and shootings.

I'd look elsewhere.

even 35 years ago it want like that

 

[IndexFund]

It actually should grow far more, its 35-40 mins by train to city or 30-35 by car (less via freeway).

The Broady shopping center is pretty nice. But the ulehs and other crims give it a bad image...

 

[Belu]

I am looking more and more at this sector, may even fit my budget come mid year

 

[+Mpire_Builder+]

Broadmeadows.
median price $215,000
Annual growth over 10 year period: 10.3%
Advertised weekly rent: 190
Gross rental yield : 4.6%

 

[normailson]

too feral

even 35 years ago it want like that

This suburb was on my radar last year until this happened:

She was attacked as she slept in her home in Cooper Street, Broadmeadows, on Monday, August 13 - the sixth time her home had been broken into this year.

http://www.news.com.au/heraldsun/story/0,21985,22405221-661,00.html

crime happens in any suburb but a 91 year old grandmother in her sleep? And six times in a year? It was only Sept. She could probably have expected a few more break-ins had she lived. Poor lady.

 

[+Mpire_Builder+]

This suburb was on my radar last year until this happened:

She was attacked as she slept in her home in Cooper Street, Broadmeadows, on Monday, August 13 - the sixth time her home had been broken into this year.

http://www.news.com.au/heraldsun/story/0,21985,22405221-661,00.html

crime happens in any suburb but a 91 year old grandmother in her sleep? And six times in a year? It was only Sept. She could probably have expected a few more break-ins had she lived. Poor lady.

this is just the story that made it too the papers, how many bad things happend in every suburb. i know this is a disgusting story but if it didnt sell we wouldnt have herd about it to begin with.
If you went to the local police station in most subs im sure they could tell you some interesting stories.
Broadmeadows is a lower income sub but SOMETIMES they dont stay that way forever. im not comparing the two but for an example look at yarraville and spotswood and altona and williamstown. they were the pits years ago.. now?? bottom line is there is money to be made in MOST suburbs so one cannot generalise too serverly...

I for one wont rule out looking into broadmeadows in the coming 2 years..

 

[Player]

Hi Empire

I just setteld on one for our brother inlaw at the Glenroy end of Broadmeadows and helped with the transactions. Paid $229,000 for 650 sq m with 3 BR (bulletproof) concrete home with reno'd kitchen. Will rent for 240-250 p/wk. It will be a development site for them in several years.

The amenity and infrastructure is fantastic. It is part of the 2030 transit city initiative of the state govt and City of Hume is pro-development. There are already town houses being built in the neighbouring streets and so value is "locked in." It is referred to by the media as an outer suburb........ it's actually 16-17 km from the CBD.

Is there crime? Yes. But, there is also crime in most inner city suburbs including the CBD. Frankston had negative press for years (especially Frankston North and the Pines) and now it is a jewel. Focus on 500 - 1000 metres from the town centre, not too close to the railway line. Glenroy values have flown. Broadmeadows is next. In my opinion stay south of Riggall Street and buy as much land as you can. They are not making any more land there. Right now it offers very affordable housing with affordable (below median) rents.

 

[THEHEATH]

Given what has happened in nearby Glenroy you'd have to be crazy not to discount it.... Could be soon added to the " Could have bought a house there for 50K 10 years ago, nobody wanted to live there...". When you consider the impact rising fuel costs will eventually how far people want to live from the city then I think Broadmeadows has huge potential. But I'm just a pleb so don't listen to me.

 

[THEHEATH]

This suburb was on my radar last year until this happened:

She was attacked as she slept in her home in Cooper Street, Broadmeadows, on Monday, August 13 - the sixth time her home had been broken into this year.

http://www.news.com.au/heraldsun/story/0,21985,22405221-661,00.html

crime happens in any suburb but a 91 year old grandmother in her sleep? And six times in a year? It was only Sept. She could probably have expected a few more break-ins had she lived. Poor lady.

Yeah but that's more than likely 1 person and or his mates picking on a soft target over and over. Ok, not a great advertisement for a suburb but one rotten apple does not spoil the basket....

 

[wanty]

So many armchair experts around arent there !!!

I still own a property in broady bought for a song.

From sep 07 to mar 08 median jumped from 216000 to 253000 around 17% growth in 6 months isnt bad. All at the same time as inner city and essendon slowed and even tapered off.

All this for a modest commision house 3 bedder in reasonable nic.

Certain parts of broady are prime targets for redevelopment gurus which is driving prices to previously unforseen levels.

BTW very good rental return rates with capitol growth to boot.

Crime ridden,my A#&,lived there all my life,never had any dramas whatsoever.Feel safe to walk any street there, anytime of night, no problems at all.

Do some research on realestate.com,the suburb is BOOMING.

 

[normailson]

So many armchair experts around arent there !!!

I come here to offer an opinion that I formed and to listen to others opinions because investing is always somewhat speculative regardless of the demographic of the area. I'm sure the others do too.

Even the real "experts" such as Terry Ryder will form opinions based on past incidents and events that happen in an area to come to a conclusion as to when to buy into a suburb. Terry admits he gets it wrong too sometimes.

I think it's fantastic that you have done so well in such a short period of time.