Property value increases in Footscray have tracked just higher than the VIC average of 8.06% over the last 12 months.
If we look at median property appreciation over just the last three months, Footscray has given property investors a paper return of 1.33%. This puts Suburb as 421 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 -3.43% below the asking price at the moment.
Property investors should expect to get $420 weekly from the median priced house in this suburb.
Footscray, 3011 ranked 215th in VIC when comparing growth in median property values or capital gain over the last 12 months. Footscray is one of 2098 in our list for VIC
Over the longer term, Footscray has seen property prices show investors a 4.31% return over the last 3 years. This is worse than over the last 12 months
Property buyers and investors in Footscray 3011 should be seeing an average reduction in asking price of around -5.08% . This means that Footscray is holding prices well when compared to other suburbs in VIC.
Situated 5.06km 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.