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Tullamarine suburb profile

Tullamarine is a bustling suburb located approximately 17km northwest of Melbourne's CBD, best known for housing Melbourne Airport, the city's primary aviation hub. The suburb offers a mix of residential, commercial, and industrial areas, providing a diverse range of amenities and services. Tullamarine's strategic location near major highways, including the Tullamarine Freeway, ensures excellent connectivity to the city and surrounding regions. The area features a variety of housing options, from family homes to modern apartments, catering to a diverse population. With its proximity to the airport and convenient transport links, Tullamarine is a practical choice for both residents and businesses.

Tullamarine property market performance

Current median dwelling price$709,800Past 3 months

Property growth+2.8%Past 12 months

Tullamarine’s property market has shown varied performance over the past 12 months. House values have increased by 7.6%, bringing the median house price to $826,000, while unit values have remained stable with a median price of $541,000. This indicates a stronger demand for houses compared to units in the area.

Sales activity has been moderate, with 39 houses and 11 units sold in the past 12 months. Units are selling faster than houses, with a median of 32 days on market compared to 43 days for houses, suggesting a quicker turnover in the unit market.

The rental market in Tullamarine has seen a significant increase in unit rents, which have risen by 11.1% over the last 12 months, while house rents have seen a modest increase of 2.7%, reflecting a growing demand for rental units in the suburb.

HousesUnits
Median price
Past 3 months
$824K$596K
Change in value
Past 12 months
8.3%-2.7%
Sold
Past 3 months
3811
Median days on market
Past 12 months
4521
Average rent
Past 12 months
$578$500
Change in rent
Past 12 months
3.2%11.1%

5 year median price trend for houses and units

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Tullamarine demographics

Tullamarine, located in Melbourne's north-west, is a suburb known for its proximity to Melbourne Airport and its blend of residential and industrial areas. With a population of 6,733, Tullamarine offers a balanced lifestyle for families and professionals alike. The median age of 39 suggests a mature community, with many residents likely to be established in their careers and family life. The suburb's median total household income of $1,404 per week reflects a moderate economic standing, suitable for those seeking affordability without sacrificing access to urban amenities.

Family dynamics in Tullamarine are diverse, with couple families with children making up 39% of the population, closely followed by couple families without children at 38.9%. This near-equal distribution indicates a community that caters to both growing families and those who prefer a quieter lifestyle. One-parent families account for 19.7%, highlighting the suburb's inclusivity and support for various family structures. The presence of other family types, though smaller at 2.4%, adds to the suburb's demographic variety.

In terms of housing, Tullamarine presents a mix of ownership and rental opportunities. A significant portion of properties, 32.9%, are owned outright, suggesting a stable community with long-term residents. Meanwhile, 31.7% of homes are owned with a mortgage, indicating a healthy influx of new homeowners. The rental market, comprising 35.4% of properties, provides flexibility for those not ready to commit to homeownership, making Tullamarine an attractive option for a wide range of residents. Overall, Tullamarine offers a well-rounded suburban experience with its strategic location, diverse family structures, and varied housing options.

Suburbs near Tullamarine

Some popular suburbs near Tullamarine include:

How does Tullamarine compare to nearby suburbs?

  • Median house prices: Tullamarine’s median house price is 0.1% higher than Gladstone Park’s.
  • Median unit prices: Tullamarine’s median unit price is 18.1% lower than Airport West’s.
  • House price growth: Over the past 12 months, house prices in Tullamarine have grown 3.0% higher than in Gowanbrae.
  • Unit price growth: Property prices in nearby Airport West have risen 6.7% more than in Tullamarine over the past year.
  • Selling speed for houses: Properties in Tullamarine are selling 18.2% faster than in Keilor Park.
  • Selling speed for units: Properties in Tullamarine are selling 41.7% faster than in Airport West.
  • Investment considerations: In Tullamarine, the rental yield for house is 8.3% lower than the Melbourne average, while the rental yield for units is 14.7% lower.
  • House price growth: Over the past 12 months, house prices in Tullamarine have grown 24.0% lower than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Tullamarine have grown 9.1% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Tullamarine

Choosing the right real estate agent in Tullamarine can have a big impact on your sale. While there are 58 real estate agents working in the suburb, but just 5 of them were responsible for 55.8% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.54% to 2.94%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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