Broadmeadows is blowing the big town out of the water! 12/2/2026 – DOMAIN

Broadmeadows has turned the tables on Toorak, pulling ahead of Melbourne’s most exclusive suburb in housing market performance over the past 12 months.

Traditionally a battler suburb, Broadmeadows’ median house price increased by 10.5 per cent to $610,000, according to the latest Domain House Price Report. Its median unit price soared by 16.5 per cent to $495,000.

Meanwhile, Toorak’s median house price fell 14.2 per cent to $4.125 million, and its unit median price eased 2.9 per cent to $903,750.

Broadmeadows’ momentum compared to Toorak – the city’s most expensive postcode – highlights the power of affordability.

The distinction highlights the dual pace of Melbourne’s property market, where prestige postcodes don’t always deliver gains and proudly working-class suburbs can surge ahead.

However, Toorak was still the 14th priciest suburb in Australia in 2025, and the only Melbourne postcode in a top 20 dominated by Sydney heavy hitters, led by Bellevue Hill and Vaucluse.

Domain’s chief of economics and research, Dr Nicola Powell, says Broadmeadows’ rising median price reflects a market driven by the fundamentals of affordability and widespread demand.

In luxury markets such as Toorak, buyers have more time and choice.

“In today’s market, I think that performance seems quite logical,” she says. “Broadmeadows offers a price point that is accessible to first-home buyers or upgraders. What it illustrates is that demand is broad and deep – it’s not necessarily discretionary driven.

“In Broadmeadows, infrastructure and employment access matter more, and in Toorak, you have fewer buyers and higher holding costs.

“Victoria has been one of the leading states for first-home buyer participation. So, when you’re looking at that direct comparison between Broadmeadows and Toorak, it doesn’t really come as a surprise.”

Investors are discovering Broadmeadows offers appealing yields, coupled with tight vacancy rates, Ali says.

Imbesi has also noticed broad investor interest.

“We are seeing a lot of investors come to the market from interstate, just because of that affordability,” he says. “You could still buy a home, probably 18 months ago, for sub-$600,000.”

The suburb’s streetscape is evolving.

“We’ve seen a lot of development where some of the older, rundown homes have been restored and renovated,” Imbesi says. 

“There are large land plots, and in the past, they held three or four units, but we’re seeing a lot of duplexes now come to the market as well. They are more of a premium development, which has completely changed the whole landscape of the area.”

The new-year market launched with robust buyer activity.

“I think that’s going to help to keep this market flowing for the next 12 months,” Imbesi says.