Tullamarine is a moderately sized suburb in Victoria within the Hume local government area (postcode 3043). It is home to about 6,733 residents, with an established demographic and a median age of 39. Households earn a median income of $73K per year, with an average household size of 2.3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are clerical & administrative, professionals, technicians & trades. Employment in the area leans toward construction and transport & logistics. The top ancestries reported are English, Australian, Italian.
Median house prices in Tullamarine sit at $412,000, little changed on a year ago. Units have a median price of $574,000 (+2.5% YoY). The current median weekly rent is $530. This gives a gross rental yield of approximately 6.7%. The median monthly mortgage repayment is $1,733.
Tullamarine is served by 1 school, including 1 primary. The average ICSEA score is 997, which is around the national average of 1,000. Public transport access includes 53 bus stops. The crime rate in the Hume LGA is higher than average at 8,365 incidents per 100,000 population.
From an investment perspective, Tullamarine shows a gross rental yield of approximately 6.7%, rated as high yield. Property prices sit below the state median ($412K/$875K), which can point to relative value. The price-to-income ratio of 5.6x is considered affordable. House prices have moved +0.0% year-on-year. Population growth of +3.0% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.