Suburb Profile Report for Flemington VIC (3031)

Flemington House: Median price $975,000, Annual capital growth 5.95%, Number of sales 64, Weekly median advertised rent $545

Flemington Unit: Median price $437,500, Annual capital growth 4.27%, Number of sales 89, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Flemington, 3031 ranked 622th in VIC when comparing growth in median property values or capital gain over the last 12 months. Flemington is one of 2098 in our list for VIC

Flemington,3031 has offered an average of -2.50% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Flemington 3031 should be seeing an average reduction in asking price of around -3.30% . This means that Flemington is holding prices well when compared to other suburbs in VIC.

With the median price for a house in Flemington being $975000 and the advertised rent reaching $545 the gross rental yield for property investors calculates out to be 2.91%

Giving property investors a an average capital gain of 1.69% for the last year, Flemington, 3031 is the 889th highest performer in Australia in this respect.

A 36.29% growth in median value for property investors in Flemington,3031 puts this suburb at number 200th in terms of best performing suburbs in VIC

The most recent median price for Flemington is $437500, with sellers offering an average of -3.27% off the asking price.

In the last year 89 properties changed hands in Flemington, which puts it as the 85th most active market in VIC when comparing the number of sales per suburb.

Situated 4.14km from the CBD, Flemington is one of Moonee Valley localities in the postcode 3031.

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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.

Full summary

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.

Close
Metrics i HOUSE UNIT
$975,000 $437,500
-4.41% 0.34%
-2.50% 1.69%
5.95% 4.27%
$545 $380
64 89
2.91% 4.52%
47.83 55.15

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 7528
Median household income ($/weekly) 1022
Median age of persons 32
Median housing loan repayment ($/monthly) 2000
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 815 10.8
    20-24 years 717 9.5
    25-34 years 1764 23.4
    35-44 years 1191 15.8
    45-54 years 776 10.3
    Others 2265 30.1
    Age Group
    Census Count Percent(%)
    Not Married 3083 56.9
    Registered Married 1659 30.6
    Defacto Relationship 676 12.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3987 58.3
    Croatia 195 2.9
    United Kingdom 176 2.6
    Viet Nam 435 6.4
    Other 1029 15.0
    Others 1018 14.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 547 8.2
    Christianity 2858 42.9
    Hinduism 157 2.4
    Islam 988 14.8
    No Religion 2043 30.7
    Others 66 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 301 11.0
    $400-$599 248 9.1
    $600-$799 262 9.6
    $1,000-$1,249 230 8.4
    $1,500-$1,999 240 8.8
    Others 1448 53.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2098 37.6
    Not in the labour force 1944 34.8
    Employed, worked part-time 1007 18.0
    Unemployed, looking for work 309 5.5
    Employed, away from work 229 4.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 408 12.2
    Professionals 1232 37.0
    Technicians & trades workers 257 7.7
    Community & personal service workers 344 10.3
    Clerical & administrative workers 477 14.3
    Others 615 18.5
    Occupation
    Census Count Percent(%)
    Infants/Primary 459 24.7
    Secondary 326 17.5
    Technical or Further Educational Institution 201 10.8
    University or other Tertiary Institutions 609 32.7
    Other type of educational institution 172 9.2
    Others 95 5.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 3483 50.7
    Separate house 1968 28.7
    Semi-detached, row or terrace house, townhouse 1412 20.6
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1876 63.7
    Being purchased 615 20.9
    Fully owned 444 15.1
    Other tenure type 9 0.3
    Tenure Type
Census 2011, ABS
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