TULLAMARINE, 3043 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling TULLAMARINE, 3043 values up and netting property investors a capital gain of 21.62% for the past year.
Investors saw the median home price rise to $638,500.
Profits due to an upward trend in home prices in the suburb averaged 17.95% per annum over a 3-year period.
TULLAMARINE now ranks at the 227th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in TULLAMARINE are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $380 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In TULLAMARINE, homes and units usually stay on listing for an average of 33.5 days.
In 2016, 69 properties were sold in TULLAMARINE during the past year, making it the 102nd most active market in VIC based on total real estate transactions.
TULLAMARINE ranks 85th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
TULLAMARINE, 3043 has a capital gain of 16.43% for the past year, which is higher than average compared to its 38.46% growth within a five-year period.
TULLAMARINE, 3043 ranks 251st on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 16.43% for property investors last year.
With the median home price in TULLAMARINE sitting at $450,000, and the average rent at $330, property owners could potentially earn a 3.81% increase in gross rental yield.
Property investors have seen a 7.98% gain in TULLAMARINE based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on TULLAMARINE, 3043 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 16.43%.
A survey of average capital gains or median home price increase in suburbs across the country shows that TULLAMARINE, 3043 obtained a 7.1% growth over a ten-year period. It ranks 353rd on our list of suburbs that property investors should look into.