Footscray is in the TOP 30% in VIC when comparing median price capital growth over the last year. Footscray gave property investors a good capital gain figure when compared to the rest of the state, with 14.45%.
If we look at median property appreciation over just the last three months, Footscray has given property investors a paper return of 6.68%. This puts Suburb as 58 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in Footscray are currently offering property investors an average price cut of -2.49% below the asking price at the moment.
Residents and property investors in Footscray have been waiting around 83.58 days to sell a property.
Renters in Suburb are facing rents around $4920 per annum or $410 every week.
Footscray is an average performer in VIC when comparing median price capital growth over the last year. Footscray gave property investors a average capital gain figure when compared to the rest of the state, with 3.16%.
Across a shorter period, Footscray, 3011 has seen a median price increase of -1.57% over the last quarter.
Vendor discounting in Footscray is giving property investors an average Vendor Discount of around -5.07%. This puts suburb at number 161th in VIC when ranking the most discounted suburbs.
Footscray, 3011’s gross rental yield is 4.44%
The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soonFull summary
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The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soon.Close
The area screams affordability and with the continued gentrification of the area, there is significant potential for further capital growth.
Compared to other inner city suburbs like Carlton North ($600,000) and Ascot Vale ($455,000), Footscray offers a much more affordable price for units.
Situated 5km west of Melbourne’s CBD, Footscray is well serviced by public transport, shopping centres, parks and recreational centres.
A wide variety of schooling is available, Victoria University maintains two campuses in the area and a multicultural hub provides a wide variety of dining options.
All of these aspects are appealing to a young professional demographic in a big way.
The Maribyrnong City Council continues to put a lot of effort into infrastructure development including rejuvenating Footscray’s Barkly Street Village and other projects like the McNab Avenue Development.