West Footscray has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 14.06% to date .
Taking the average capital gain, or increase in median house value, West Footscray,3012 has racked up an average of 14.06% over the period. This ranks it number 667th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in West Footscray are currently offering property investors an average price cut of -2.44% below the asking price at the moment.
At number 1053 in a list of fastest selling suburbs, West Footscray is in the TOP 30% of suburbs in Australia with an average of days on market 54.52 for properties listed there.
Using the current median advertised rental of $432.5 and the average annual increase in value of a median property of 8.36%, investors should hope to achieve an overall return of 2.49%
With a capital gain of -7.93% for the last 12 months, West Footscray, 3012 has performed for property investments than its average annual 5.05% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, West Footscray has given property investors a paper return of -6.94%. This puts Suburb as 350 on a list of fastest fasting appreciating suburbs in VIC
West Footscray3012 is located in VIC which offers an average discount of -4.58% to property investors. West Footscray itself is showing figures that indicate -7.21% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $320 mark per week – giving a return of 4.28% based on the median price in Suburb
While there’s been a rapid increase in development here, West Footscray still has a unique, quirky charm. West Footscray, home to Whitten Oval, training ground of the reigning AFL premiers Western Bulldogs, achieved 6.7% price growth over the last five yearsFull summary
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Prices drop in inner-city suburb
Median unit price: $385,000
Three-year growth: 2.7%
Rental yield: 4.1%
While there’s been a rapid increase in development here, West Footscray still has a unique, quirky charm. West Footscray, home to Whitten Oval, training ground of the reigning AFL premiers Western Bulldogs, achieved 6.7% price growth over the last five years.
Just 7km from the CBD, the suburb recorded a median unit price of just $385,000, making it one of the most affordable inner-city areas in Melbourne. With a thriving multicultural community, a vibrant cafe culture and easy access to the city via public transport, Footscray is popular with commuters and families.
A mix of Victorian and Edwardian-era homes and new builds, with more parks and green space than you would expect of an inner-city metropolitan area, it’s a high-demand market popular with investors, owner-occupiers and renters, particularly university students.Close