Suburb Profile Report for Flemington VIC (3031)

Flemington House: Median price $905,000, Annual capital growth 5.35%, Number of sales 51, Weekly median advertised rent $530

Flemington Unit: Median price $413,500, Annual capital growth 4.15%, Number of sales 48, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Property investors who have had real estate in Flemington, 3031 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -16.78%

Flemington,3031 has offered an average of -16.78% return per annum in house price rises to property investors over the last three years.

At number 685th 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.

On average over the past year, suburb has had 4.25 sales per month, which equates to 51 per year.

Renters in Suburb are facing rents around $27560 per annum or $530 every week.

VIC has seen average median house prices change by 3.42% which means that Flemington, 3031 has done well for property investors by showing a capital gain of 0.36% over the last year

A 12.17% growth in median value for property investors in Flemington,3031 puts this suburb at number 264th in terms of best performing suburbs in VIC

At number 263th of VIC’s most discounted properties, Flemington is in the TOP 20% of the state/territory when listing in order of most discounted to least.

The VIC suburb of Flemington, 3031 is in the Moonee Valley (C) local government area.

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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
$905,000 $413,500
-4.49% -2.48%
-16.78% 0.36%
5.35% 4.15%
$530 $380
51 48
3.05% 4.78%
178.5 121.42

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : 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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