If you compare the increase in value of investment property in West Footscray, 3012 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.80%.
The five-year average increase in median property values for West Footscray,3012 has given property investors a potential capital gain of 20.23% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that West Footscray is offering property investors an average of -5.87. This rate of discount on properties puts Suburb at number 559th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 9.09%, investors should hope to achieve an overall return of 3.04%
VIC has seen average median house prices change by 4.91% which means that West Footscray, 3012 has done well for property investors by showing a capital gain of -5.59% over the last year
A 20.63% growth in median value for property investors in West Footscray,3012 puts this suburb at number 199th in terms of best performing suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.32% offered to property buyers. Sellers in West Footscray itself are offering an average vendor discount of -9.13% to real estate investors.
With the median price for a house in West Footscray being $380000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 3.97%