Bulleen Short-Term Rental (Airbnb) Market
Bulleen VIC Investment Analysis
BUY
— 2.6% gross yield on a $1,400,000 median.
THE MARKET
Bulleen has compounded at 5.0%/yr over 5 years — a house that cost $1,096,937 in 2021 is worth $1,400,000 today. Properties are sitting on market for 45 days (roughly balanced conditions). At the same growth rate, today's median reaches $1,786,794 by 2031.
- **Median house:** $1,400,000 | **Units:** $682,449 - **Gross yield:** 2.6% | **Net yield:** 1.1% - **5yr price CAGR:** 5.0%/yr | **3yr forecast:** 5.7%/yr - **Population:** 37,191 | **Owner-occupier rate:** 36% | **Affluence:** Very High
- **Supply pipeline:** Low — Price growth outpacing new supply, limited development pipeline
RENTAL SNAPSHOT
- **Vacancy:** 2.0% (improving) | **Rental demand:** High - **Median weekly rent:** $700/wk | **Days on market:** 45 (stable) - Balanced market — vacancy manageable but monitor trend.
SHORT-TERM RENTAL
- **Median nightly rate:** $175/night | **Occupancy:** 66% - **Estimated annual STR gross:** ~$42,158/yr - **vs long-term rent:** $36,400/yr (+16% STR premium — factor in higher management costs)
INFRASTRUCTURE & CATALYSTS
- No major confirmed infrastructure projects on record. - **Transport:** Standard suburban transport access
BULL CASE
If Bulleen maintains 3%+ annual growth and vacancy stays below 1.4%, median prices could reach $1,610,000 within 3 years with yields compressing slightly as capital values rise.
BEAR CASE
A market correction or interest rate shock could see prices in Bulleen pull back 10-15% from $1,400,000, with vacancy rising to 3.6% and rental yields softening as tenants gain leverage.
KEY RISKS
- No significant risk factors identified for this suburb
COMPARABLE MARKETS
- **Ferny Creek** (VIC): $1,037,300 median, 0.0% yield, 0.0% 1yr growth - **Flemington** (VIC): $1,014,500 median, 0.0% yield, 0.0% 1yr growth - **Forest Hill** (VIC): $1,325,000 median, 0.0% yield, 0.0% 1yr growth
THE PLAY
Bulleen presents a compelling investment opportunity. The combination of solid fundamentals and high rental demand supports entry at current price levels. Proceed with due diligence on specific properties. Target gross yields above 2.6% and prioritise properties with value-add potential. Consider timing entry around the current growth phase of the market cycle.
- Entry range: $1,260,000 – $1,540,000 - Minimum gross yield to target: 4.5% - Watch signal: vacancy dropping below 2% and days on market falling below 35
This analysis is for informational purposes only and does not constitute financial, legal, or investment advice. Seek professional advice before making investment decisions.
Analyse a Property in Bulleen
Get instant STR rules, granny flat feasibility, rental yield, and full investment strategy comparison for any address in Bulleen.
Analyse a Property →Data sourced from ABS, state government property sales, and Airbnb market analytics. For informational purposes only — not financial advice.