With a capital gain of 19.69% for the last 12 months, Footscray, 3011 has performed for property investments than its average annual 9.34% property growth over the last 5 years.
A 56.62% growth in median value for property investors in Footscray,3011 puts this suburb at number 95th in terms of best performing suburbs in VIC
At number 520th of VIC’s most discounted properties, Footscray is in the TOP 20% of the state/territory when listing in order of most discounted to least.
With a capital gain of -8.46% for the last 12 months, Footscray, 3011 has performed for property investments than its average annual 7.89% property growth over the last 5 years.
Footscray,3011 was ranked 1380 in Australia by increase in median property value over the quarter.
Vendor discounting in Footscray is giving property investors an average Vendor Discount of around -4.61%. This puts suburb at number 170th in VIC when ranking the most discounted suburbs.
In the last year 219 properties changed hands in Footscray, which puts it as the 27th most active market in VIC when comparing the number of sales per suburb.
Situated 5.97km from the CBD, Footscray is one of Maribyrnong localities in the postcode 3011.
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.