Flemington has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.42% to date .
Flemington,3031 was ranked 1804 in Australia by increase in median property value over the quarter.
On average over the past year, suburb has had 4.50 sales per month, which equates to 54 per year.
Flemington, 3031 ranked 15th in VIC when comparing growth in median property values or capital gain over the last 12 months. Flemington is one of 2099 in our list for VIC
Flemington,3031 has offered an average of 30.07% return per annum in house price rises to property investors over the last three years.
At number 135th of VIC’s most discounted properties, Flemington is in the middle of the state/territory when listing in order of most discounted to least.
Situated 4.48km from the CBD, Flemington is one of Moonee Valley (C) 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.
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.