Where the auction clearance rate is currently 84 per cent.
Flemington is fast becoming one of the most popular suburbs in Melbourne. A strong market for investment, 61 per cent of Flemington locals rent making it an attractive suburb for sales and property management businesses.
Let’s look at the top four market share positions today. Nelson Alexander holds the highest market share at 30 per cent and Jellis Craig follows in second position with 21 per cent. A big jump to third and fourth spot with Brad Teal and Barry Plant holding 5 per cent and 2 per cent, respectively.
With buyer demand increasing, the median house price has jumped from $633,000 in 2013 to $826,000 in 2016. Units prices have remained stable around the mid-high $300,000 mark (according to Domain data), maintaining the investment appeal in the market.
The opportunity to open a business in the heart of Flemington is with Ray White. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today.
Contact:
Andrew McCulloch | +614 7903 9440
