Suburb Profile Report for Tullamarine VIC (3043)

Tullamarine House: Median price $600,000, Annual capital growth 6.02%, Number of sales 55, Weekly median advertised rent $400

Tullamarine Unit: Median price $463,000, Annual capital growth 5.06%, Number of sales 46, Weekly median advertised rent $370

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • Unit Report

If you compare the increase in value of investment property in Tullamarine, 3043 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -9.09%.

Tullamarine,3043 has offered an average of -9.09% return per annum in house price rises to property investors over the last three years.

In the last year 55 properties changed hands in Tullamarine, which puts it as the 386th most active market in VIC when comparing the number of sales per suburb.

Situated 14.72km from the CBD, Tullamarine is one of Hume (C) localities in the postcode 3043.

At number 783th in the list of Australian suburbs ordered by increase in median house value over the last year, Tullamarine, 3043 is in the BOTTOM 50% with a property value increase of -2.53% recorded in median house prices.

A 38.21% growth in median value for property investors in Tullamarine,3043 puts this suburb at number 248th in terms of best performing suburbs in VIC

With the median price for a house in Tullamarine being $463000 and the advertised rent reaching $370 the gross rental yield for property investors calculates out to be 4.16%

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
$600,000 $463,000
-4.76% -2.53%
-9.09% -2.53%
6.02% 5.06%
$400 $370
55 46
3.47% 4.16%
105.888888888889 68.5714285714286

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very 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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