Median house price in Tullamarine soars

October 19, 2017 by  

Tullamarine, Mickleham, Jacana, Gladstone Park, and Westmeadows are among few of the Hume suburbs with rapidly surging real estate prices since 2014.

Mickleham was seen to have the most impressive growth, achieving 134.1% within three years, where the median cost of a house rose dramatically from $185,000 up to $433,450.

Hot on its tails was Tullamarine, where the median price has risen 48.7% from $404,250 up to $601,000 in three years. This put Tullamarine in the position as Hume’s second most expensive suburb.

Jacana followed close behind with a 48.5% rise in its median house cost.

Attwood and Greenvale, both known as the fancier suburbs in Hume, showed relatively low rises in their median house pricing of 14% and 10 %, respectively.

The director of Jason Real Estate Tullamarine, Joseph Sassine, mentioned that there has been an intense growth in house prices around Tullamarine over the past two years, due to people realising its proximity to the airport and also the city. A three-bedroom home at 12 Walpa Court was sold at $616,000, to the surprise of the happy owners who initially expected a much lower price before the auction.

According to Daniel Imbesi, an agent at Stockdale & Leggo Glenroy, Jacana house prices were also increasing as many investors are interested in the chance to capitalise.

In the increasingly dynamic housing market, people who are interested in selling or buying often connect with real estate agents of their choice via business cards they collect, or referrals from family and friends. A professional agent then arranges the property viewing and takes care of the intricate matters, making the selling or purchasing process relatively hassle-free.