Tullamarine has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -4.69% to date .
Across a shorter period, Tullamarine, 3043 has seen a median price increase of 1.31% over the last quarter.
Property investors should expect to get $400 weekly from the median priced house in this suburb.
VIC has seen average median house prices change by 6.11% which means that Tullamarine, 3043 has done well for property investors by showing a capital gain of 1.94% over the last year
Tullamarine,3043 has offered an average of 1.94% return per annum in house price rises to property investors over the last three years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.98% offered to property buyers. Sellers in Tullamarine itself are offering an average vendor discount of -5.54% to real estate investors.
On average over the past year, suburb has had 4.25 sales per month, which equates to 51 per year.
With the median price for a house in Tullamarine being $472000 and the advertised rent reaching $362.5 the gross rental yield for property investors calculates out to be 3.99%
Information supplied by:
Competition is strong for units
Median unit price: $480,000
Three-year growth: 48.8%
Rental yield: 3.7%
A suburb that is part of three LGAs – Brimbank, Hume and Moreland – Tullamarine is a reasonably priced suburb about half an hour’s drive from the Melbourne CBD.
Following a rise of almost 30% in apartment values in the year to May 2018, the median price rests at $480,000. The suburb enjoys long-term demand, with growth steady since 2013. There is healthy competition for properties, with units staying on the market for only 34 days on average before being sold. The average discount rate, only 3.1% also indicates that vendors don’t have a hard time selling.
Tullamarine has the Melbourne airport on its western boundary, making it very convenient for frequent travellers. The suburb sits near Moonee Ponds Creek as well. The local economy is supported by multinational aerospace firms with offices in this suburb.