Suburb Profile Report for Footscray VIC (3011)

Footscray House: Median price $850,000, Annual capital growth 9.40%, Number of sales 144, Weekly median advertised rent $430

Footscray Unit: Median price $393,000, Annual capital growth 6.33%, Number of sales 231, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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 16.60%.

The five-year average increase in median property values for Footscray,3011 has given property investors a potential capital gain of 60.38% across each of those five years.

At number 262th of VIC’s most discounted properties, Footscray is in the middle of the state/territory when listing in order of most discounted to least.

At number 1041 in a list of fastest selling suburbs, Footscray is in the TOP 30% of suburbs in Australia with an average of days on market 58.6 for properties listed there.

Using the current median advertised rental of $430 and the average annual increase in value of a median property of 9.40%, investors should hope to achieve an overall return of 2.63%

Property investors who have had real estate in Footscray, 3011 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -9.09%

Footscray,3011 was ranked 1351 in Australia by increase in median property value over the quarter.

Sellers are offering property buyers an average discount of -4.57% to buyers in Footscray at the moment, which is less than average for the rest of VIC.

Residents and property investors in Footscray have been waiting around 93.87 days to sell a property.

Renters in Suburb are facing rents around $4080 per annum or $340 every week.

YIP MAG Information supplied by:

YIP MAG
April 2015

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The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soonFull summary

The former industrial zone of Footscray holds a long history of development that shows no sign of slowing down soon.

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.

Close
Metrics i HOUSE UNIT
$850,000 $393,000
6.25% -1.75%
16.60% -9.09%
9.40% 6.33%
$430 $340
144 231
2.63% 4.50%
58.6 93.87

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Footscray VIC
Demographics
Total population 13202
Median household income ($/weekly) 1059
Median age of persons 32
Median housing loan repayment ($/monthly) 1950
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 1608 12.2
    25-34 years 3522 26.7
    35-44 years 2042 15.5
    45-54 years 1445 10.9
    55-64 years 1023 7.7
    Others 3562 27.0
    Age Group
    Census Count Percent(%)
    Not Married 5202 54.3
    Registered Married 3297 34.4
    Defacto Relationship 1086 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5414 47.1
    Croatia 640 5.6
    Indonesia 966 8.4
    Viet Nam 1239 10.8
    Other 1212 10.5
    Others 2025 17.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 1474 13.3
    Christianity 4359 39.3
    Hinduism 836 7.5
    Islam 838 7.5
    No Religion 3400 30.6
    Others 198 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 457 10.2
    $600-$799 425 9.5
    $1,000-$1,249 451 10.1
    $1,250-$1,499 401 9.0
    $1,500-$1,999 511 11.4
    Others 2233 49.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3731 37.0
    Not in the labour force 3411 33.9
    Employed, worked part-time 2013 20.0
    Unemployed, looking for work 587 5.8
    Employed, away from work 332 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1648 27.1
    Technicians & trades workers 646 10.6
    Community & personal service workers 617 10.2
    Clerical & administrative workers 841 13.8
    Labourers 718 11.8
    Others 1606 26.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 486 15.3
    Secondary 430 13.5
    Technical or Further Educational Institution 468 14.7
    University or other Tertiary Institutions 1400 44.1
    Other type of educational institution 289 9.1
    Others 105 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5900 52.6
    Flat, unit or apartment 3613 32.2
    Semi-detached, row or terrace house, townhouse 1645 14.7
    House or flat attached to a shop, office 63 0.6
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2649 55.9
    Being purchased 1127 23.8
    Fully owned 932 19.7
    Other tenure type 31 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals