Question 1

Is Tullamarine a nice place to live?

Accepted Answer

Tullamarine is shaped by its airport precinct and a strong mix of commercial and light industrial activity alongside established residential streets. Housing ranges from post-war brick and weatherboard homes to newer townhouses and small unit developments, and the suburb attracts airport and industrial workers, families and long-term residents. With 6,733 people and a median age of 39, it is a suburb of families: couples with and without children together make up most households, and about two in three homes are owner-occupied while roughly a third are rented.

Everyday life in Tullamarine is practical rather than boutique. The area is served by the Tullamarine Freeway and regular bus links, there are a few shopping strips, sports fields and pockets of parkland, and recent and planned works around Melbourne Airport and local facilities aim to improve access and amenity. Whether it suits you depends on whether that mix of employment, transport links and established housing matches what you want.

Question 2

Is it expensive to live in Tullamarine?

Accepted Answer

Against the median household income recorded at the last Census, buying in Tullamarine sits well above local incomes. The median house price of $824,000 is about 11.3 times a typical local annual household income at the last Census, while the median unit price of $602,000 is about 8.2 times a typical local annual household income at the last Census.

Rents take a sizeable to large share of local incomes: a house rent of $580 a week would use about 41.3% of a typical local household's weekly income at the last Census, and a unit rent of $500 a week would take about 35.6% of that weekly income. On these figures, buying is the more stretched option against what people locally earned at the last Census, while renting still represents a sizeable share of typical local income.

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

Question 3

Is Tullamarine a good place to invest?

Accepted Answer

The numbers for Tullamarine show a clear split between houses and units over the past year. House values rose 8.1% (a solid rise) while house rents climbed 5.5% (a solid rise), so capital growth outpaced rental income on houses. Units moved the other way: unit values fell 2.6% (a moderate decline) while unit rents jumped 11.1% (a strong rise), so the rent a unit earns increased markedly even as unit prices eased.

If rental income is your priority, the 11.1% rise in unit rents is the figure that matters; if capital growth is what you want, the 8.1% rise in house values is the relevant number. Whether that balance suits your goals and circumstances is for you to weigh up.

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.

	Houses	Units
Median price Past 3 months	$824K	$602K
Change in value Past 12 months	8.1%	-2.6%
Sold Past 3 months	27	14
Median days on market Past 12 months	47	26
Average rent Past 12 months	$580	$500
Change in rent Past 12 months	5.5%	11.1%

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