Tullamarine

POSTAL CODE: VIC, 3043
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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 5.01% for the past year.

Investors saw the median home price rise to $775,000.

Profits due to an upward trend in home prices in the suburb averaged 0.66% per annum over a 3-year period.

TULLAMARINE now ranks at the 414th 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 $610 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 34.3 days.

In 2016, 97 properties were sold in TULLAMARINE during the past year, making it the 13th most active market in VIC based on total real estate transactions.

Surburb overview

Tullamarine is a suburb located approximately 14 kilometres north-west of Melbourne's Central Business District, within the Cities of Brimbank, Hume, and Merri-bek.  According to the 2021 census, it has a population of 6,733 residents. 

The suburb's demographic profile reveals a diverse community. A significant portion of the population, 61.5%, was born in Australia, with notable communities from Italy (4.1%), India (3.5%), and Greece (2.1%).  In terms of ancestry, the most common responses include Australian (24.1%), English (21.9%), and Italian (13.2%). 

Several bus routes facilitate public transportation in Tullamarine, connecting residents to neighbouring suburbs and critical destinations. The suburb's proximity to major freeways, including the Tullamarine Freeway and Western Ring Road, provides motorists convenient access. 

Tullamarine is equipped with essential establishments. The Tullamarine Shopping Centre offers a variety of retail and dining options. Healthcare facilities are accessible, with several medical centres and clinics in the surrounding areas. Educational institutions such as Tullamarine Primary School serve the local community. 

Recreational activities are abundant in Tullamarine. The suburb has several parks and reserves, providing facilities for sports and leisure activities. The Moonee Ponds Creek Trail offers opportunities for cycling and walking enthusiasts. Additionally, the nearby Broadmeadows Valley Park provides further recreational amenities. 

Tullamarine is a suburban area with a blend of residential amenities, public transport options, and recreational facilities, contributing to its community-oriented atmosphere. 

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