Flemington, 3031 ranked 669th 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
When looking at the potential capital gains offered to property investors over the last 3 years, Flemington comes in at number 450th in VIC.
At number 490th of VIC’s most discounted properties, Flemington is in the TOP 30% of the state/territory when listing in order of most discounted to least.
In the last year 68 properties changed hands in Flemington, which puts it as the 367th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $540 and the average annual increase in value of a median property of 5.40%, investors should hope to achieve an overall return of 2.98%
With a capital gain of -0.09% for the last 12 months, Flemington, 3031 has performed for property investments than its average annual 4.16% property growth over the last 5 years.
Across a shorter period, Flemington, 3031 has seen a median price increase of -1.59% over the last quarter.
Sellers are offering property buyers an average discount of -2.93% to buyers in Flemington at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 8.25 sales per month, which equates to 99 per year.
The VIC suburb of Flemington, 3031 is in the Moonee Valley 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.
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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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