Get a property report and suburb profile for any property in Bulleen

Bulleen is a leafy north-eastern Melbourne suburb on the banks of the Yarra River, known for its riverside parkland and long, tree-lined streets. The housing mix of established family homes on generous blocks, newer contemporary builds and some townhouse pockets, together with a high rate of owner-occupation (79.5%), gives the area a settled feel. Residents make use of parklands and walking and cycling trails for recreation, visit the Heide Museum of Modern Art for culture, and rely on local shops, schools and bus links plus access to major roads for day-to-day errands and commuting.

At the same time Bulleen is the site of major North East Link construction, with tunnel works beneath the suburb, a new Manningham Road interchange and significant changes to Bulleen Road and nearby intersections that include night and day construction, lane changes and temporary closures. The Birrarung-Bolin framework for the Yarra River proposes expanded parklands, new pedestrian and cycling links, river crossings and a possible expansion of the Heide, and Manningham Council has signalled renewal of the former industrial precinct once works are delivered. Whether Bulleen suits you will come down to how much you value green space and a settled residential community versus being near active road and tunnel works.

At $1,275,000 the median house in Bulleen works out to about 13.5 times a typical local annual household income at the last Census. That annual figure is (weekly $1,814 × 52) $94,328, so buying sits well above what local households earned at the last Census. Renting also takes a meaningful slice of income: a house rent of $755 a week would be about 41.6% of a typical local household's weekly income at the last Census, and a unit at $583 a week would be about 32.1%. On these figures, buying looks much more stretched against local incomes, while renting would still take a sizeable to large share of a typical local household's income.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The clearest movement in Bulleen over the past 12 months is in unit rents, which rose 9.0%. Unit values increased 4.9% over the year, while house rents were up 2.7% and house values edged up 1.9%.

If rental income is your priority, the units side has been the stronger performer this year. If you are focused on capital growth, unit values outpaced house values, though those value gains were more modest than the rise in unit rents. Whether that pattern makes Bulleen a suitable investment for you depends on your own objectives and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.