Suburb Profile Report for Tullamarine VIC (3043)

Tullamarine House: Median price $513,500, Annual capital growth 7.06%, Number of sales 88, Weekly median advertised rent $350

Tullamarine Unit: Median price $388,250, Annual capital growth 5.04%, Number of sales 68, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Tullamarine is in the TOP 30% in VIC when comparing median price capital growth over the last year. Tullamarine gave property investors a good capital gain figure when compared to the rest of the state, with 12.86%.

Over the longer term, Tullamarine has seen property prices show investors a 31.67% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Tullamarine is giving property investors an average Vendor Discount of around -2.52%. This puts suburb at number 601th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 7.33 sales per month, which equates to 88 per year.

Advertised rents are around the $350 mark per week – giving a return of 3.54% based on the median price in Suburb

Investment property in Tullamarine has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.93%

When looking at the potential capital gains offered to property investors over the last 3 years, Tullamarine comes in at number 90th in VIC.

Vendor discounting in Tullamarine is giving property investors an average Vendor Discount of around -6.14%. This puts suburb at number 84th in VIC when ranking the most discounted suburbs.

Using the current median advertised rental of $320 and the average annual increase in value of a median property of 5.04%, investors should hope to achieve an overall return of 4.29%

YIP MAG Information supplied by:

YIP MAG
August 2016

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Next time you fly into Tullamarine airport, taking some extra time to check out the unit market in this suburb might be a good idea.Full summary Next time you fly into Tullamarine airport, taking some extra time to check out the unit market in this suburb might be a good idea.

With a median price of $358,000, a unit in Tullamarine may seem an attractive choice for somebody looking to enter the Melbourne market, and there may also be signs of some good capital growth to come.

While the past five years have seen growth of just 1%, recent years have been more positive.

The past three years have seen growth of 13%, while in the past 12 months the median price has risen 11%.


Units aren’t languishing on the market either, with the average time on market just 64 days.

Those who do buy into the suburb now will also secure themselves a respectable rental yield of 5%, thanks to a median weekly rent of $318.Close
Metrics i HOUSE UNIT
$513,500 $388,250
5.88% 1.50%
12.86% 10.93%
7.06% 5.04%
$350 $320
88 68
3.54% 4.29%
43.72 61.59

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
Find a mortgage broker in Tullamarine VIC
Demographics
Total population 6271
Median household income ($/weekly) 1070
Median age of persons 38
Median housing loan repayment ($/monthly) 1559
Average household size 2.3
  • Census Count Percent(%)
    25-34 years 1113 17.7
    35-44 years 918 14.6
    45-54 years 798 12.7
    55-64 years 827 13.2
    65-74 years 613 9.8
    Others 2002 31.9
    Age Group
    Census Count Percent(%)
    Not Married 2355 46.8
    Registered Married 2282 45.4
    Defacto Relationship 392 7.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 3768 64.3
    Indonesia 178 3.0
    Japan 282 4.8
    United Kingdom 159 2.7
    Other 328 5.6
    Others 1143 19.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 129 2.2
    Christianity 4503 78.1
    Hinduism 76 1.3
    Islam 193 3.3
    No Religion 829 14.4
    Others 37 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 267 11.6
    $600-$799 253 10.9
    $800-$999 249 10.8
    $1,000-$1,249 262 11.3
    $1,500-$1,999 305 13.2
    Others 975 42.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2121 41.6
    Not in the labour force 1806 35.4
    Employed, worked part-time 793 15.6
    Employed, away from work 199 3.9
    Unemployed, looking for work 179 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 387 12.5
    Technicians & trades workers 519 16.7
    Clerical & administrative workers 582 18.7
    Machinery operators & drivers 342 11.0
    Labourers 317 10.2
    Others 961 30.9
    Occupation
    Census Count Percent(%)
    Pre-school 71 6.7
    Infants/Primary 329 31.2
    Secondary 295 28.0
    Technical or Further Educational Institution 130 12.3
    University or other Tertiary Institutions 170 16.1
    Others 60 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4492 75.2
    Semi-detached, row or terrace house, townhouse 863 14.4
    Flat, unit or apartment 600 10.0
    House or flat attached to a shop, office 20 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 915 37.1
    Being purchased 775 31.4
    Rented 771 31.3
    Other tenure type 6 0.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals