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.
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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.
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