Giving property investors a a solid capital gain of 10.04% for the last year, Flemington, 3031 is the 504th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Flemington comes in at number 487th in VIC.
On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.
Giving property investors a a solid capital gain of 17.14% for the last year, Flemington, 3031 is the 108th highest performer in Australia in this respect.
Flemington,3031 has offered an average of 17.14% return per annum in house price rises to property investors over the last three years.
At number 92th of VIC’s most discounted properties, Flemington is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Flemington is 207th on a list of best yielding suburbs for rents in VIC with a 3.89% return
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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.