VIC has seen average median house prices change by 7.80% which means that Footscray, 3011 has done well for property investors by showing a capital gain of 15.38% over the last year
Over the longer term, Footscray has seen property prices show investors a 30.47% return over the last 3 years. This is worse than over the last 12 months
Footscray, 3011 is offering VIC ‘s 595th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.
In the last year 147 properties changed hands in Footscray, which puts it as the 169th most active market in VIC when comparing the number of sales per suburb.
Footscray, 3011’s gross rental yield is 2.91%
Giving property investors a an average capital gain of 1.63% for the last year, Footscray, 3011 is the 992th highest performer in Australia in this respect.
Footscray,3011 has offered an average of 1.63% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Footscray 3011 should be seeing an average reduction in asking price of around -5.60% . This means that Footscray is holding prices well when compared to other suburbs in VIC.
Often selling an investment property can take time, and in Footscray the average time real estate has been on the market is 97.3 days.
Property investors should expect to get $325 weekly from the median priced house in this suburb.
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.