A very narrow gap between gross rental yields and mortgage interest rates is a buy signal for investors.
Race to buy property in Flemington
While Flemington holds the nation’s attention for one race a year, its appeal as a suburb is year round. With beautiful parks, great cafes and a multicultural atmosphere, Flemington provides an enviable lifestyle for its residents.
Throughout Australia, Flemington is known as the home to Australia’s most popular race, The Melbourne Cup and the country’s most significant racing site. To the north is Melbourne Showgrounds. With the racecourse and Showgrounds encompassing most of the area between the Maribyrnong River and Epsom Road, they are a major part of the suburb’s history and identity. The Showgrounds hold the annual Royal Melbourne Show each September and an assortment of other consumer and trade events through the year.
Close to the city, Flemington provides residents with a variety of public transport options. Trains, buses and trams go to the city and surrounding suburbs from most corners of the suburb, with additional services available to the area on race and show days. Within its boundaries, Flemington offers educational options for students from kindergarten to secondary. The suburb also offers residents a collection of good cafes, restaurants and shops in the shopping village along Racecourse Road, an area that has gentrified significantly over the last five to ten years.
Debney Park, Flemington Community Gardens, and a collection of other parks and reserves provide lots of outdoor choice. For those who would like to learn the history of the suburb, Flemington Historical Society has mapped out a historical walk that showcases Flemington heritage landmarks winding past a lovely mix of ovals, reserves and parks.
Flemington’s proximity to the city (as well as everything it offers within its own borders) makes it a worthy suburb to invest in. The suburb is home to some great single front Victorian and Edwardian cottages and terrace houses that are suited to both homebuyers and investors.
Good apartments can be found, but they are harder to pick out. Take care when looking into apartments as there is a limited supply of good quality blocks that we consider investment grade. Seek out smaller period-style apartment blocks that have been well maintained.
Flemington is a suburb whose property market is a better place for your dollars than its racecourse. And after years of buying properties in the area and analysis of thousands of sales over 21 years, Wakelin Property Advisory has a Flemington suburb expertise unmatched by any buyer’s advocate or buyer’s agent.