Suburb Profile Report for Tullamarine VIC (3043)

Tullamarine House: Median price $660,000, Annual capital growth 7.79%, Number of sales 46, Weekly median advertised rent $390

Tullamarine Unit: Median price $460,000, Annual capital growth 5.27%, Number of sales 44, Weekly median advertised rent $348

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

Giving property investors a an average capital gain of 2.01% for the last year, Tullamarine, 3043 is the 2142th highest performer in Australia in this respect.

While Tullamarine,3043 ranked number 305th in VIC for increase in median house value (annualised) increase, it is ranked 58th over the last 5 years.

The most recent median price for Tullamarine is $660000, with sellers offering an average of -6.62% off the asking price.

Often selling an investment property can take time, and in Tullamarine the average time real estate has been on the market is 50.83 days.

VIC has seen average median house prices change by 3.42% which means that Tullamarine, 3043 has done well for property investors by showing a capital gain of 4.57% over the last year

Tullamarine,3043 has offered an average of 4.57% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Tullamarine 3043 should be seeing an average reduction in asking price of around -3.85% . This means that Tullamarine is holding prices well when compared to other suburbs in VIC.

Tullamarine, 3043’s gross rental yield is 3.93%

Information supplied by:


August 2018

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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 CBDFull summary

Competition is strong for units

Postcode: 3043

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.

Close
Metrics i HOUSE UNIT
$660,000 $460,000
0.00% -3.58%
2.01% 4.57%
7.79% 5.27%
$390 $348
46 44
3.07% 3.93%
50.83 84

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Above average (H), Good (U)
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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
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