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Gowanbrae

POSTAL CODE: VIC, 3043
HOUSE

Property investors have seen a -8.35% drop in GOWANBRAE based on a decrease in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains GOWANBRAE, 3043 saw average growth in the long term.

The VIC 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 $960,000

Profits averaged 2% per annum over a 3-year period, due to an upward trend in home prices in GOWANBRAE, 3043.

This means, real estate investors could earn a rental income of $630 based on current median home prices for the suburb.

The gross rental yield in GOWANBRAE, 3043 is 3.41%.

An average of 2.42 real estate transactions take place per month in GOWANBRAE which translates to 29 per annum.

Surburb overview

Gowanbrae is a suburb located approximately 13 kilometres north-west of Melbourne's Central Business District, within the City of Merri-bek.  According to the 2021 census, it has a population of 2,971 residents. 

The suburb's demographic profile reveals a diverse community. A significant portion of the population, 73.3%, was born in Australia, with notable communities from Fiji (2.0%), India (2.0%), Italy (1.8%), Sri Lanka (1.6%), and China (1.4%).  In terms of ancestry, the most common responses include Australian (24.2%), English (23.9%), Italian (18.8%), Irish (9.1%), and Scottish (6.4%). 

Public transportation in Gowanbrae is facilitated by bus route 490, which connects Westfield Airport West to Gowanbrae via Melrose Drive and Gowanbrae Drive. The bus route operates as a demand-responsive transport service within the suburb. The nearest tram service is Route 59, which operates between Airport West and the city. Broadmeadows, Jacana, and Glenroy stations on the Craigieburn line are the closest rail options. 

Gowanbrae is equipped with essential establishments. The suburb has a $4 million community and children's centre with views of Melbourne. Nearby shopping centres like Westfield Airport West provide various retail and dining options. Healthcare facilities are accessible, with several medical centres and clinics in the surrounding areas. Educational institutions in neighbouring suburbs serve the local community.

Recreational activities are abundant in Gowanbrae. The Moonee Ponds Creek Trail and the Western Ring Road Trail provide facilities for recreational and commuting cyclists.  The suburb also features several parks and reserves, offering sports and leisure activities facilities. Additionally, Gowanbrae has a solid and active resident group and hosts a yearly festival most residents attend. 

Gowanbrae is a suburban area with a blend of residential amenities, public transport options, and recreational facilities, contributing to its community-oriented atmosphere. 

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