Brookfield

POSTAL CODE: VIC, 3338
HOUSE

BROOKFIELD, 3338 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling BROOKFIELD, 3338 values up and netting property investors a capital gain of 10% for the past year.

Investors saw the median home price rise to $605,000.

Profits due to an upward trend in home prices in the suburb averaged 1.89% per annum over a 3-year period.

BROOKFIELD now ranks at the 227th 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 BROOKFIELD are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $450 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In BROOKFIELD, homes and units usually stay on listing for an average of 49.1 days.

In 2016, 235 properties were sold in BROOKFIELD during the past year, making it the 429th most active market in VIC based on total real estate transactions.

Surburb overview

Brookfield is a residential suburb in Melbourne’s outer west, located within the City of Melton, approximately 41 kilometres west of Melbourne’s central business district.

Positioned south of central Melton and north of the Western Freeway, Brookfield forms part of the broader Melton urban area and has developed primarily as a master-planned residential community.

According to the 2021 Census, Brookfield had a population of 11,707 residents, reflecting significant growth driven by housing development in Melbourne’s western growth corridor.

Residential construction accelerated during the 2000s and 2010s, with detached dwellings on suburban allotments forming the predominant housing type.

The suburb includes several local parks, playgrounds and sporting reserves, and Toolern Creek runs nearby, contributing to open space and shared path networks.

Educational facilities within Brookfield include government and non-government primary schools, with secondary schooling options available in neighbouring Melton and Melton South.

Retail and commercial services are primarily accessed in central Melton, including the Woodgrove Shopping Centre and surrounding retail precincts, which offer supermarkets, specialty stores, and medical clinics.

Public transport is supported by bus services linking Brookfield to Melton railway station, which provides V/Line services to Melbourne’s CBD via the Ballarat line.

Road connectivity to Melbourne and regional Victoria is provided by the Western Freeway and local arterial roads that connect to High Street and Ferris Road.

Brookfield experiences a temperate climate with warm-to-hot summers and cool winters, typical of Melbourne’s western plains.

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