Suburb Profile Report for Tullamarine VIC (3043)

Tullamarine House: Median price $620,000, Annual capital growth 5.30%, Number of sales 58, Weekly median advertised rent $400

Tullamarine Unit: Median price $472,000, Annual capital growth 4.21%, Number of sales 51, Weekly median advertised rent $363

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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:


August 2018

M
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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.

Metrics i HOUSE UNIT
$620,000 $472,000
1.31% 0.64%
-4.69% 1.94%
5.30% 4.21%
$400 $363
58 51
3.35% 3.99%
82.2 61.1176470588235

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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