Flemington

POSTAL CODE: VIC, 3031

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains FLEMINGTON, 3031 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that FLEMINGTON, 3031 obtained a 4.53% growth over a ten-year period. It ranks 3269th on our list of suburbs that property investors should look into.

FLEMINGTON, 3031 in VIC belongs to the local government area of Moonee Valley.

FLEMINGTON, 3031 has a capital gain of 3.73% for the past year, which is higher than average compared to its 11.55% growth within a five-year period.

With the median home price in FLEMINGTON sitting at $1,140,000, and the average rent at $650, property owners could potentially earn a 2.96% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in FLEMINGTON are low, as opposed to average gains per annum over the past five years.

Homeowners and real estate investors betting on FLEMINGTON, 3031 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 32.77%.

A steady increase in median property prices over a five-year period in FLEMINGTON, 3031 translates to a 21.77% capital gain.

Property investors enjoyed capital gains of 32.77% over the last 12 months in FLEMINGTON, translating to lower returns compared with its peers in VIC.

FLEMINGTON, 3031 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $551,000.

Profits due to an upward trend in home prices in FLEMINGTON, 3031 averaged 7.26% per annum over a 3-year period.

Home owners selling their properties and realtors in FLEMINGTON usually have to wait an average of 67.8 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $490 mark, reflecting a 4.62% increase in returns based on the current median price in FLEMINGTON.

FLEMINGTON, 3031 places 44th in Australia based on median property value growth during the quarter.

Surburb overview

Flemington, located approximately 5 kilometres northwest of Melbourne's Central Business District, is an inner-city suburb known for its rich history and vibrant community. As of the 2021 Census, it has a population of 7,025 residents.

The suburb boasts a diverse population, with a significant proportion of residents born overseas. The median age is 34, and households primarily comprise couples with children. This multicultural community contributes to the suburb's dynamic atmosphere.

Flemington is well-served by public transportation, offering residents convenient access to various parts of Melbourne. The Newmarket railway station on the Craigieburn line provides direct services to the CBD and northern suburbs. Tram routes 57 and 59 traverse the area, connecting Flemington to the city centre and other vital destinations. Several bus routes operate through the suburb, enhancing connectivity to neighbouring areas.

Flemington offers a range of amenities catering to residents' daily needs. Racecourse Road is the central commercial hub, featuring a variety of shops, cafes, and restaurants. The suburb has several educational institutions, including primary and secondary schools, providing quality education options for families. Residents can access medical centres near significant hospitals, ensuring comprehensive healthcare services.

Flemington Racecourse is renowned for hosting the Melbourne Cup since 1861. It is a significant landmark and venue for various events. The suburb features several parks, providing green spaces for outdoor activities and community gatherings. Local centres offer programs and activities catering to diverse interests, fostering a strong sense of community.

Flemington's blend of historical significance, cultural diversity, and modern amenities makes it a desirable location for residents seeking a vibrant urban lifestyle.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,140,000	$551,000
Growth Report
Median Quarterly	0%	4.95%
Median 12 month	3.73%	32.77%
Median 3 years	0.57%	21.77%
Median 5 years	11.55%	8.57%
10 years average annual	4.53%	2.82%
Weekly media advert. rent	$650	$490
Time on Market	50.5 days	67.8 days
Gross Rental Yield Percent	2.96%	4.62%

Demographics (Median Values)*

Total Population 18531

Weekly Household Income 1626

Household Size 2.20

Average Age 33

Monthly Loan Repayment 2000

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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