Hume City, VIC

The City of Hume is a local government area in Melbourne, Victoria, Australia boasting a dynamic and rapidly growing property market. It encompasses the outer north-western suburbs and a handful of rural communities located between 13 and 40 kilometers west of Melbourne’s central business district.

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Hume City homes are located in the one of the many growing real estate markets in the country. One of the main reasons for its growth is a rural environment within proximity to metropolitan Melbourne, which is on the way to become the 2nd most expensive city in Australia.

Technicians and trades workers account for 15.4 percent of employment in Hume, followed by Clerical and Administrative Workers (14.8 percent), Professionals (14.1 percent), Community and Personal Service Workers (12.0%), and Labourers (11.1 percent). The typical weekly personal income in Hume is $529 for persons aged 15 years and older, which is slightly above the state average.

The real estate market in Hume City Victoria has seen significant changes over the last few years, especially in terms of what is popular with buyers and sellers. Based om the latest data 86.1 % of inhabited private residences are detached houses, 9.6 % are semi-detached, row or terrace houses, townhouses, or other structures, 3.5 % are flats or apartments, and 0.5 % are other structures. Which shows that more residents are choosing to live in semi-detached dwellings such as townhouses. However, majority of the population still prefers traditional stand-alone family homes

The most important thing you should do when looking for a new home is to look at the property data and understand the health of the local property market. Explore the price points and trends as well as potential return from investment from Hume City suburbs via the interactive dashboard below.

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Capital Growth Heatmap

Property Market Snapshot

This page provides an overview of the LGA real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this council area. You are able to drill down to suburb-level data and charts which visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy

2BR

3BR

4BR

5BR

Typical Price for houses in this council area. Percent changes indicate Year on Year growth or decline in house values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent

2BR

3BR

4BR

5BR

Median Weekly Rent for houses in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield

2BR

3BR

4BR

5BR

Yearly Gross Yield for houses in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for houses.

Buy

1BR

2BR

3BR

Typical Price for units in this council area. Percent changes indicate Year on Year growth or decline in unit values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent

1BR

2BR

3BR

Median Weekly Rent for units in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield

1BR

2BR

3BR

Yearly Gross Yield for units in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for units.

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How to use this Dashboard

This interactive dashboard illustrates the trends for key real estate metrics in the area. Use these metrics to determine potential return on investment from this property market and its’ sub-markets.

Upgrade to Personal Plan to unlock the trend forecast section on the Price, Rent & Yield graphs.

Get the Professional Subscription to see trends for advanced property market metrics that indicate real estate demand and supply in this LGA.

Upgrade to Professional Plan to see Growth Rate Cycle data.
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Property Market in Hume City, VIC

What other property markets are there near Hume City, VIC?

Hume City is surrounded by 6 other council areas – Brimbank, Whittlesea, Mitchell, Melton, Darebin, Moreland.

Suburbs/localities in this Local Government Area: Greenvale 3059, Jacana 3047, Kalkallo 3064, Meadow Heights 3048, Melbourne Airport 3045, Mickleham 3064, Oaklands Junction 3063, Roxburgh Park 3064, Somerton 3062, Sunbury 3429, Westmeadows 3049, Wildwood 3429, Yuroke 3063, Broadmeadows 3047, Bulla 3428, Campbellfield 3061, Coolaroo 3048, Craigieburn 3064, Dallas 3047, Attwood 3049, Gladstone Park 3043

1 thought on “Hume City, VIC”

  1. Property Market Outlook for Hume City, Victoria

    Hume City is a part of the Melbourne metropolitan area and is one of the fastest-growing and culturally-diverse communities in Victoria. The city is situated on Melbourne’s north-west fringe, between 15 and 45 kilometres from the Melbourne CBD. The city had a population of 233,471 as of 2019 and residents come from more than 160 different countries and speak approximately 140 languages.

    It is made up of a mix of new and established residential areas, major industrial and commercial precincts and vast expanses of rural areas and parkland. The Melbourne International Airport accounts for 10 per cent of the total area of Hume City.

    Hume City is also home to major road transit routes including the Tullamarine Freeway, Western Ring Road, Hume Highway and the Craigieburn Bypass and is abutted by the Calder Freeway to the west. 81,026 people living in Hume City in 2016 were employed, of which 62% worked full-time and 36% part-time.

    The key employment sectors are manufacturing, transport and storage, with other significant employment in retail, and to a lesser extent, education and health. In Hume City there were 2,414 residential buildings approved to be built in the financial year 2019-20 Feb FYTD.

    Population 233,471
    Unemployment Rate 8.4%
    Industry Manufacturing, transport and storage
    Occupation Non-Professionals
    Building Approvals 2,414
    Vacancy Rate 1.3%
    Rental Population 22.26%

    Dwelling Type Demand Profile

    Compared to the national average, there is greater buyer demand for houses in Hume City compared to units. Across Hume City, the greatest demand is for three and four bedroom houses, with two and three bedroom units and semi-detached houses making up only a small portion of the demand profile in the area.

    Three bedroom homes makeup the largest demand sector of the market in Hume City, but demand is very similar to four bedroom homes. As of Q2 2020 the rental gross yield for houses and units is 3.57% and 4.73% respectively.

    How do Hume City houses & units compare to neighbouring LGAs?

    According to HtAG property market data, the median house price in Hume City is A$588,843 with a -$80,000 to +$457,000 variance compared to the neighbouring LGAs. Moreland City and Macedon Ranges Shire have a significantly higher median house price, while Mitchell Shire and Melton City are slightly below Hume City.

    Moreland City: A$1,045,062
    Macedon Ranges Shire: A$786,800
    Brimbank City: A$720,449
    Whittlesea City: A$631,469
    Hume City: A$588,843
    Melton City: A$547,980
    Mitchell Shire: A$508,409

    House prices in Hume City have started 2020 slowly, falling in value by -2.83% as shown on the heat map. In comparison 2 of the remaining 6 neighbouring LGAs exhibited positive growth above 4%, with Macedon Ranges Shire being the strongest performer in the area with 4.95%.

    Macedon Ranges Shire: 4.95%
    Mitchell Shire: 4.21%
    Brimbank City: 0.67%
    Whittlesea City: -0.78%
    Melton City: -1.01%
    Hume City: -2.83%
    Moreland City: -2.94%

    The unit market in Hume City is limited compared to the house market, with units priced at a median value of A$400,179. Neighbouring LGA prices vary in the range of -$95,000 to +$69,000 with the median price for units reported as:

    Moreland City A$545,196
    Hume City: A$400,179
    Whittlesea City: A$398,041
    Brimbank City A$392,313
    Melton City A$355,384
    Mitchell Shire: A$331,643

    Unit prices in Hume City have seen very strong growth in 2020 with a 9.02% increase. Out of the neighbouring LGAs, Hume City has seen the highest rate of growth in 2020, by a significant margin.

    Mitchell Shire: 9.02%
    Moreland City: 3.79%
    Brimbank City: 2.09%
    Whittlesea City: 0.61%
    Hume City: 0.43%
    Melton City: -0.29%

    Property Market Outlook for Hume City Houses

    HtAG property market data for Hume City shows that sales volume for houses had been steadily increasing up until Q4 2017 where it has since eased slightly.

    Sales volumes have been averaging 500-700 transactions each quarter since their bottom in Q1 2019. Rental volumes have been in a steady up trend since Q1 2018, but have seen two flat periods in 2014 and from 2015-2017. Median house prices have increased steadily since 2008 with a peak in 2011 and also in 2018 at A$620,000. Since that point the median value has fallen slightly to A$590,000 as of Q2 2020. HtAG forecasts show that median values are expected to remain flat at A$590,000 into Q2 2022, with a slight dip to A$580,000.

    The median value of 2, 3, 4 and 5 bed houses had been rising steadily since 2008. Median values currently sit at A$480,000, A$510,000, A$630,000 and A$750,000 respectively. Median rents have increased since 2008 but did remain flat between 2010 and 2014 and currently sit at A$410. The median rental price of 2, 3, 4 and 5 bed houses is A$340, A$380, $430 and $480 respectively.

    HtAG forecasts that the median rental value is expected to remain steady at A$410 into Q2 2022, although it is predicted to dip to A$400 briefly.

    Property Cycle Position of Hume City Houses

    The market cycle graph for Hume City highlights a considerable growth which is currently at -2.83% and is at its lowest level since the dip in 2012-2013 where growth fell to -1.61%. In 2017, growth had been as high as 14.97%, with the prior peak in 2010 at 7.61%. According to HtAG forecasts, growth rates will move higher from this point into 2021 and 2022. Currently house prices are at approximately 6 o’clock on the property clock as the growth cycle gradually climbs (bottom).

    Suburb Capital Growth and Price Heatmaps for Houses in Hume City

    The heatmap above represents median price growth in this LGA on an annual basis. The green areas show a percentage increase ranging from 3%-5% with the highest growth in the suburb of Jacana (4.84%), Attwood (4.66%) and Campbellfield (4.63%).

    Sunbury houses grew in value in 2020 by 0.34% to A$641,854. Mickleham houses fell in value in 2020 by -3.99% to A$509,657.

    The scatter plot above shows all the individual sales over the past year and their concentration in the LGA. Greenvale is the higher end suburb where most of the sales in the A$600,000-A$900,00 range occurred.

    The vast majority of sales have been spread evenly around the LGA in the price range of A$400,000-A$600,000.

    Property Market Outlook for Hume City Units

    The median price for units in Hume City is only modestly lower than the median price for houses.

    Units had a median price of A$400,000 in the second quarter of 2020 which is currently the peak. Overall, the trend in median prices has been continually increasing since 2008, with a flat period from 2011-2015.The trend is very similar with rental prices for units where they have been increasing since 2008. The current median rent is A$370 per week.

    Sales volumes fell away sharply in late-2017 and have since recovered after a low in 2019. According to market forecasts by HtAG, the median price of units will increase headed into Q2 2022, to A$410,000 from the current value of A$400,000.

    By Q2 2022, it is forecast that the median rent will increase to A$380 per week from the current value of A$370.

    Property Cycle Position of Hume City Units

    Market cycle graph for Hume City units above shows that prices increased significantly in 2011 (3.53%) and 2017 (12.54%). The growth rate fell to -0.26% in 2014 which was the previous lowest level from where it currently sits at 0.43%.

    According to HtAG forecasts, that growth in unit values will be increasing to 1.14% into 2022. According to the HtAG forecast, median prices for units in this LGA are starting to recover after a pull back in capital growth and would be approximately 6 o’clock on the property clock (bottom).

    Suburb Capital Growth & Price Heatmaps for Units in Hume City

    The heatmap above represents median price growth in this LGA on an annual basis for units in Hume City in 2020. Broadmeadows units grew at 4.23% and Meadow Heights grew at 3.45%. Sunbury units fell in value in 2020 by -0.78% to A$395,017. However, we must note there has only been 2 sales in each of the suburbs mentioned in the unit markets.

    Looking at the scatter plot, there are far fewer unit sales in this LGA compared to houses. Sales are evenly distributed around Broadmeadows, Jacana and Sunbury with prices in the A$300,000 to A$400,000 range.

    Conclusion

    Hume City appears to be coming into a period of slowly increasing returns, however, a number of suburbs within the LGA are set for strong growth headed into 2022. Over the next two years, HtAG forecasts Campbellfield houses to grow by +8.79% by Q2 2022 which is assessed as medium confidence due to the sales volumes (8) in the quarter.

    Jacana is also predicted to grow strongly by +6.93% by Q2 2022 and is also assessed as having low confidence based on 2 sales. Dallas is predicted to grow strongly by +6.64% by Q2 2022 and is assessed as having high confidence based on 2 sales.

    Coolaroo is predicted to see growth of +6.17% by Q2 2022 and is assessed as having medium confidence based on 4 sales. Craigieburn is predicted to see growth of +6.09% by Q2 2022 and is assessed as having high confidence based on 38 sales. The suburbs that are expected to show the strongest rental yields by Q2 2022 are Kalkallo (4.16%), Craigieburn (3.94%%), and Mickleham (3.91%).

    For the unit market, the suburb of Sunbury is predicted to grow at +7.19% by Q2 2022, with medium confidence based on 2 sales. Yields for Sunbury units are forecast to be 4.45%in Q2 2022.

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