All About Tullamarine, Hume, VIC, 3043

Tullamarine, located in the City of Hume, Victoria, is a suburb that offers a diverse housing market with a mix of older homes and new developments. The proximity to Melbourne Airport is a significant factor influencing the real estate dynamics here, as it offers convenient access for frequent flyers and professionals in the aviation industry. Housing options range from traditional detached homes to modern townhouses and apartments, catering to a variety of preferences and budgets. Over the years, Tullamarine has experienced a steady demand for housing, spurred by its strategic location and the larger expansion of Melbourne's northern suburbs. Property prices have seen moderate increases, reflecting both its desirability and the overall growth of the Melbourne housing market, making it an attractive option for investors and first-time homebuyers alike.

Living in Tullamarine provides residents with suburban comforts alongside urban conveniences. The area boasts a selection of local amenities, including shopping centers, parks, and schools, making it suitable for families with children. Public transport and major roadways connect the suburb efficiently with Melbourne's central business district, allowing for manageable commutes for those working in the city. Additionally, the diverse community brings a blend of cultures and lifestyles, enriching the local character and social environment. While the proximity to the airport is a draw for many, noise can be a consideration depending on the specific location within Tullamarine. Nevertheless, its balanced offering of affordability, convenience, and community makes Tullamarine a compelling choice for many looking to settle in the greater Melbourne area.

Tullamarine Real Estate Market Outlook

Thinking about buying in Tullamarine? Now could not be a better time, with 6442 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $861,000 with prices in this suburb ranging from $306,000 to $2,403,000. The aproximate distance to the coast is 10 Km.

Consistent high demand relative to supply is a key feature in Tullamarine driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Tullamarine due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Tullamarine changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Tullamarine the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.

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Public Transport

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General Points of Interest

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