Broadmeadow Suburb Profile
2023 Suburb Profile: Broadmeadow, NSW 2292
Broadmeadow, located in the heart of Newcastle, New South Wales, is a vibrant suburb known for its convenience, community spirit, and excellent transport connections. With a mix of residential, commercial, and recreational spaces, it offers a balanced lifestyle for its residents. Broadmeadow is home to a diverse range of amenities, making it an attractive choice for families, professionals, and individuals alike.
Broadmeadow Property Market Guide
Property Types:
Broadmeadow is a surprisingly small suburb with the most common property type being either 3 bedroom homes or 1 & 2 bedroom apartments. The recent rezoning of the Brunker Road development corridor has enabled developers to build multi-story complexes which caters for a lower price point of property purchasers. As you move away from Brunker Rd, some areas of Broadmeadow offer larger blocks of land with freestanding homes, however the average land size in the suburb is substantially smaller than those of neighbouring suburbs.
Median Property Value:
The median residential house value in Broadmeadow is around the $1,000,000 mark, while unit values sit around the $550,000 - $850,000 mark depending on size.
Rental Prices:
The median rental price for a property in Broadmeadow is approximately $630 per week, offering relatively affordable rental options compared to some of the neighbouring suburbs. This takes into account the unit market as well, which distorts the median rental number slightly. Freestanding homes would expect to yield higher than this amount.
Future Growth Prospects:
Broadmeadow's future growth prospects are positive, driven by its strategic location close to Newcastle's central business district and ongoing urban development initiatives. The suburb's well-connected public transport system, proximity to employment hubs, and community-focused amenities are likely to contribute to its sustained growth in property values and desirability.
Schools
Broadmeadow offers a range of educational options for families with children. Notable schools in the suburb include:
Broadmeadow Public School
St. Therese's Primary School
Distance to CBD and Closest Beach
Distance to CBD: Broadmeadow is situated approximately 4 kilometres southwest of Newcastle's CBD, allowing residents easy access to employment, cultural, and recreational opportunities.
Closest Beach: Merewether Beach, one of Newcastle's most famous and picturesque beaches, is approximately 5 kilometres east of Broadmeadow, offering residents a quick escape to the coast.
Local Cafes, Bars, and Restaurants
Broadmeadow boasts a variety of dining and entertainment options, including:
Public Spaces
Residents of Broadmeadow have access to several public spaces for recreation and relaxation, including:
Broadmeadow District Park: A spacious park with sports fields, picnic areas, and playgrounds for families to enjoy.
Hunter Stadium: A major sports venue hosting various events, including rugby, soccer, and concerts
In conclusion, Broadmeadow presents a well-rounded lifestyle for its residents, characterized by its central location, community amenities, and potential for future growth. Its mix of residential properties, educational facilities, and recreational spaces make it an appealing choice for individuals and families seeking the benefits of both urban and suburban living.
It's important to note that real estate market conditions can change over time, so it's advisable to consult with local real estate professionals or do further research for the most up-to-date information. You can contact us here if you have any questions specific to the local market.