Question 1

Is Broadford a nice place to live?

Accepted Answer

Broadford is a small country town in Mitchell Shire with a down-to-earth, semi-rural character. The community of 4,592 people has a median age of 40 and a typical household income of $1,519 a week. Housing mixes weatherboard cottages and postwar brick homes near the centre with larger blocks and small farms on the outskirts, attracting families, tradespeople and people after a tree-change. Roughly four in five households are owner-occupied, and the family mix is dominated by couple families, many with children.

Everyday life centres on a compact main street of shops and cafés, local sporting clubs and community facilities, plus a redeveloped Broadford Community Health Centre. Outdoor recreation is close at hand in nearby state forest and the Tallarook Ranges, and road and rail links including Broadford station on the Seymour line make regional travel straightforward. There are active rail works through town and a number of council projects planned or underway, from intersection upgrades to streetscape and reserve improvements.

Question 2

Is it expensive to live in Broadford?

Accepted Answer

Buying a house in Broadford sits at about 7.5 times a typical local annual household income at the last Census. The median house price is $595,750 and the Census-recorded median household income was $1,519 a week (about $78,988 a year), so purchasing works out to roughly 7.5 times that annual income, which places buying well above local incomes.

Renting a house here runs to about $495 a week, which is roughly 32.6% of a typical local household's weekly income at the last Census, a sizeable share. If you are renting rather than buying, that rent share is the figure most relevant to you; whether it feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Broadford a good place to invest?

Accepted Answer

House values in Broadford climbed 6.1% over the past 12 months, a solid rise in capital value for the year. That house-value movement is the primary market figure available here, so it is the number to consider if capital growth is what matters to you; there isn't enough recent data on unit values or rents to describe those parts of the market. Whether that level of capital growth suits your investment objectives and circumstances is for you to judge.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$596K	N/A
Change in value Past 12 months	6.1%	N/A
Sold Past 3 months	22	5
Median days on market Past 12 months	57	N/A
Average rent Past 12 months	$495	N/A
Change in rent Past 12 months	N/A	N/A

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