Flemington has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -13.99% to date .
The five-year average increase in median property values for Flemington,3031 has given property investors a potential capital gain of 28.62% across each of those five years.
At number 581th of VIC’s most discounted properties, Flemington is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Flemington the average time real estate has been on the market is 48.3023 days.
Flemington is 407th on a list of best yielding suburbs for rents in VIC with a 3.10% return
Flemington, 3031 ranked 221th in VIC when comparing growth in median property values or capital gain over the last 12 months. Flemington is one of 2099 in our list for VIC
Flemington,3031 has offered an average of -3.38% return per annum in house price rises to property investors over the last three years.
Flemington3031 is located in VIC which offers an average discount of -5.69% to property investors. Flemington itself is showing figures that indicate -4.88% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 2.42 sales per month, which equates to 29 per year.
Property investors should expect to get $385 weekly from the median priced house in this suburb.
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WBP’s Sean Thomson suggests that it’s becoming hard to buy well in Flemington’s house market, as prices have gone up so substantially in recent times. “It’s become a very popular area. If you can get into the area, I’d be concentrating on the apartment market,” he says.
Units have been more than holding their own compared to houses, and their median price offers an entry point that's realistic on an investor budget.
“I would be concentrating on either one- or two-bedroom apartments,” says Thomson. “As an investor I’d stay away from three-bedrooms. With the investor market, if you buy a one- or two-bedroom apartment, in a 10 to 15-year time period you’re going to have better growth and more opportunity with buyers in the long-term. The three-bedroom market is mainly homebuyers rather than homebuyers and investors.”
He adds that Flemington, like a lot of Melbourne’s popular inner-ring suburbs, offers the kind of lifestyle and amenities that the city’s urban go-getters look for.
“The village lifestyle is becoming very important, where people eat out for breakfast lunch and dinner. So if you’re close to 24-7 wining and dining, but also parks and public transport then your property’s going to become more and more popular as time goes on.”
And with half of Flemington’s population being renters, according to ABS data, it appears that the local demographics support Thomson’s thinking.