Brooklyn

POSTAL CODE: VIC, 3012

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $882,750.

The upward trend in home prices in BROOKLYN, 3012 averaged 4.06% per annum over a 3-year period.

Average weekly rents on listings have reached the $580 mark, reflecting a 3.42% increase in returns based on the current median price in BROOKLYN.

An average of 1.25 real estate transactions take place per month in BROOKLYN which translates to 15 per annum.

15 properties were sold in BROOKLYN in 2016, making it the 583rd most active market in VIC based on total real estate transactions.

BROOKLYN, 3012 places 594th in Australia based on median property value growth during the quarter.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $670,000.

Average median unit prices in VIC have risen as a whole, pulling BROOKLYN, 3012 values up and netting property investors a capital gain of 5.02% for the past year.

Investors saw the median home price rise to $670,000.

The upward trend in home prices in BROOKLYN, 3012 averaged 2.98% per annum over a 3-year period.

BROOKLYN now ranks at the 40th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in BROOKLYN are high, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $510 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In BROOKLYN, homes and units usually stay on listing for an average of 62 days.

27 properties were sold in BROOKLYN in 2016, making it the 210th most active market in VIC based on total real estate transactions.

Surburb overview

Brooklyn is a suburb located approximately 10 kilometres west of Melbourne's Central Business District (CBD). According to the 2021 census, Brooklyn has a population of 1,979 residents. The suburb exhibits a diverse demographic profile, with a median age of 33. Most of the population comprises couples without children, reflecting a family-friendly environment.

Public transportation is well-established in Brooklyn and provides residents convenient access to various parts of Melbourne. The suburb is serviced by multiple bus routes, including the 232, 411, 412, 414, and 903 lines, facilitating easy travel to and from the CBD and surrounding areas. Additionally, nearby train stations offer further connectivity options for commuters.

Brooklyn hosts a range of essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb is near Altona Gate Shopping Centre, which provides various retail and dining options. Local schools and medical centres cater to the community's educational and healthcare needs, contributing to the suburb's family-friendly atmosphere.

Brooklyn offers recreational activities, with several parks and green spaces accessible to residents. The suburb's industrial landscape is complemented by pockets of residential areas that offer recreational facilities. Nearby beaches like Altona Beach provide additional leisure options for outdoor enthusiasts.

Brooklyn's blend of industrial and residential zones and proximity to Melbourne's CBD makes it a suburb of interest for diverse residents.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$882,750	$670,000
Growth Report
Median Quarterly	-2.75%	6.35%
Median 12 month	1.76%	5.02%
Median 3 years	12.18%	8.94%
Median 5 years	17.7%	8.06%
10 years average annual	5.59%	3.71%
Weekly media advert. rent	$580	$510
Time on Market	N/A	62 days
Gross Rental Yield Percent	3.42%	3.96%

Demographics (Median Values)*

Total Population 26298

Weekly Household Income 1483

Household Size 2.50

Average Age 33

Monthly Loan Repayment 1987

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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